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 was delivered by a Bench comprising Justice P.S. Narasimha and Justice Atul Chandurkar while deciding a batch of civil appeals arising from insolvency proceedings involving major telecom operators. At the heart of the dispute was whether telecom service providers undergoing corporate insolvency resolution could invoke the moratorium under the IBC to stall payment of licence and…