The National Company Law Tribunal (NCLT) has directed the Department of Telecommunications (DoT) not to suspend the spectrum licenses of Aircel.
As per NCLT, the relief sought by the corporate debtor is due to issuance of demand notice by DoT an apprehension is that the same may be suspended.
The battle between Aircel and DoT started when the latter demanded dues on airwaves be paid to the government failing which licenses should be suspended.
DoT’s views in the Aircel case come as it realised it would barely get money claimed from the resolution plan cleared by the Committee of Creditors (CoC) for the bankrupt operator. DoT had filed claims worth some Rs 100 billion, of which only Rs 20 billion was approved by Deloitte.
Additionally, the UV Asset Reconstruction Ltd (UVARCL) resolution plan is also awaiting court’s approval.