NCLT Directs Telecom Department Not to Cancel Aircel’s License and Spectrum

The Mumbai Bench of the National Company Law Tribunal has directed the Department of Telecommunications not to cancel or terminate the telecom license and spectrum granted to Aircel Ltd, Bloomberg Quint reported. Aircel, which had telecom license and spectrum in nine telecom circles, is undergoing insolvency resolution process. It had filed a voluntary insolvency petition in March 2018 citing operational difficulties and owes around Rs 27,000 crore to its creditors and vendors. That comes after Aircel’s resolution professional had moved the tribunal apprehending that the telecom department may cancel its telecom and spectrum licenses on account of a default in payment of telecom license fees. Read more