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The Supreme Court of India ruled that telecom companies cannot defer spectrum and licence dues to the Department of Telecommunications, rejecting spectrum as assets. A bench of P. S. Narasimha and Alok Aradhe stressed good, and telecom dues recovery.
NEW DELHI: The Supreme Court ruled that telecom service providers cannot invoke the moratorium under the Insolvency and Bankruptcy Code, 2016 (IBC) to restructure or defer payment of licence and spectrum dues owed to the Department of Telecommunications (DoT) by categorizing spectrum as a corporate asset.
A Bench comprising Justices P.S. Narasimha and Alok Aradhe asserted that material resources…