Aircel Spectrum sale under IBC decided by NCLAT : Surpeme Court

Last week The Supreme Court allowed the National Company Law Appellate Tribunal (NCLAT) to decide the question of whether mobile operator Aircel’s spectrum license can be sold under Insolvency & Bankruptcy Code (IBC) proceedings.
The Supreme Court seeking clarification of the September 1 judgment as per which the National Company Law Tribunal (NCLT) decided at the first instance whether or not the spectrum licenses of telecom companies can be sold under IBC proceedings.
Question raised by the apex court whether or not spectrum can be sold by telcos undergoing IBC proceedings After a detailed hearing spanning over a few days, the Court ruled that this question shall be decided by the NCLT.
Aircel’s clarification plea appears to be the first of more such pleas likely to come up before the Court

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