The Supreme Court of India on Friday ruled that telecom service providers cannot use the moratorium under the Insolvency and Bankruptcy Code, 2016 (IBC) to restructure or defer payment of licence fees and spectrum dues payable to the Department of Telecommunications (DoT) by treating spectrum as a corporate asset. The ruling came in Union of…
The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Chennai Bench, has held that a Service Tax Appellant by the Revenue cannot continue after the approval of the Resolution Plan by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016. The Tribunal ruled that such an appeal would stand abatement and…
Introduction: In a constitutionally significant ruling, the Supreme Court of India has decisively held that the ownership and control of telecom spectrum cannot be determined or restructured under the Insolvency and Bankruptcy Code, 2016 (IBC), as spectrum is a material resource of the community and a common good held in trust for citizens. The judgment…
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The Seamless Link This critical judicial pronouncement fundamentally reshapes the financial architecture for India’s highly leveraged telecom sector. By severing the link between spectrum as a corporate asset and the insolvency moratorium, the Supreme Court has directly confronted a mechanism that could have been used to defer substantial government dues. The implications extend beyond immediate…
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Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…