In a jolt to lenders, SC bars spectrum sale under IBC
“We hold that spectrum allocated to TSPs and shown in their books of account as an ‘asset’ cannot be subjected to proceedings under Insolvency and Bankruptcy Code (IBC), 2016,” the judgment said. TSPs are telecom service providers, and in this case, Aircel and Rcom went bankrupt in 2018 and 2019, respectively. A bench comprising Justice…