Reliance Communications (RCom) has filed a curative petition in the Supreme Court challenging the apex court’s February 13 judgment that excluded spectrum as an asset under the Insolvency and Bankruptcy Code (IBC).
According to two people aware of the development, the petition filed by resolution professional (RP) Anish Nanvaty on Friday has sought that the Supreme Court recall its earlier verdict as the ruling was causing ‘irreversible harm’. The petition explained that the Department of Telecommunications (DoT) invoked bank guarantees of the erstwhile service provider in August and terminated spectrum allocated to RCom and its subsidiary Reliance Telecom Limited earlier this month.
The RP has argued in the petition that by…