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AIRCEL INSOLVENCY CASE
SBI seeks Supreme Court review of spectrum ruling in Aircel case, warns of banking and IBC risksSBI has moved the Supreme Court seeking review of its February 13 ruling that barred telecom spectrum from being treated as an asset under ...- SBI moves Supreme Court seeking review of spectrum ruling, flags impact on telecom insolvenciesThe State Bank of India is asking the Supreme Court to reconsider a recent ruling. The judgment prevents telecom spectrum from being treate...
- Supreme Court rejects Bharti companies' pleas on Aircel paymentsSeeking a clarification of the SC's January 3 order that asked them to pay Aircel Rs 112 crore, the Bharti entities told a Bench led by Jus...
- Bankruptcy Code tweak to lift freeze on idle waves unlikelyThe draft Telecom Bill proposes provisions that will enable the government to regain control of idle airwaves of insolvent telecom operator...
- DoT may move Supreme Court against NCLAT Aircel orderThe telecom department may file an appeal against an appellate order in the Aircel case, objecting to certain portions which stated that sp...
- Aircel lenders, UVARCL to move Supreme Court as NCLAT bars spectrum saleThe NCLAT has backed DoT’s stance that spectrum is a national asset that cannot be transferred to a third party, unless statutory dues are ...
- Spectrum sale under IBC after clearing government dues: NCLAT“The spectrum cannot be utilised without payment of requisite dues, which cannot be wiped off by triggering CIRP (corporate insolvency reso...
- Delhi HC asks Govt, Finance Ministry and RBI to consider parity between IBC and Sarfaesi ActAccording to the Sarfaesi Act, asset reconstruction companies that take over stressed assets from lenders cannot infuse equity into an inso...
- Sarfaesi Act may be amended for clarity to help UVARCL in Aircel bankruptcy case and assuage SBI concernsIn a recent meeting, the government assured senior officials of the SBI--the largest lender in many bankruptcy cases—that it will work towa...
- State Bank of India seeks meeting with Finance Minister to save Aircel's resolution planThe request from the lead lender to the bankrupt mobile operator comes days after UV Asset Reconstruction Company - which has proposed to b...
- RBI refuses to let asset reconstruction companies bid for insolvent assetsThe immediate impact of the RBI’s decision will be felt by UV Asset Reconstruction Company, which was awaiting approval to take over telco ...
- SBI to meet RBI brass on dismissal of UV Asset Reconstruction Co. Ltd bidThe RBI’s opposition to ARCs becoming resolution applicants (RA) could scuttle not just the Aircel plan but that of others such as Reliance...
- Spectrum of bankrupt telcos who owe statutory dues cannot be sold: Govt to SC"Spectrum can never be a subject of sale in IBC proceedings," solicitor general Tushar Mehta told the three-judge SC bench, headed by Justi...
- Supreme Court wants all information on RCom, Sistema, Aircel & Videocon bankruptcy cases“We need to ensure that the IBC is not being misused by companies to escape liabilities,” a three-judge bench headed by Justice Arun Mishra...
- National Company Law Appellate Tribunal orders Airtel to pay Rs 112 crore to AircelAccording to people aware of the developments, NCLAT overturning National Company Law Tribunal's order will be a setback to Airtel , which ...
- NCLT directs DoT not to suspend Aircel’s spectrum licenseThe battle between Aircel , which keeled under a debt of Rs 26,000 crore, and Department of Telecommunications (DoT) started when the latte...
- Telecom department rejects Aircel's resolution proposalNCLT's Mumbai bench has asked DoT to file an affidavit by July 22 to which Aircel's RP will respond by July 28. The decision on the resolut...
- NCLT allows Airtel to retain Rs 112-crore from Aircel paymentNCLT order comes on the back of long dispute over settlements between Airtel and Aircel, which is in the midst of insolvency proceedings.
- DoT forms panel to deal with insolvency issuesThe panel, to be chaired by Shiwa Shankar Singh (member, technology), has been formed at a time when two telcos – Aircel and Reliance Commu...
- Supreme Court allows Aircel staffers to file contempt pleaThe Aircel employees said that without Airtel's payment, they were unable to even meet their basic needs.
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