The bankruptcy court has to decide on a Rs 10,000-crore question in the case of Reliance Communications Ltd. The decision will have a bearing on the single most important asset of the telecom service provider—its telecom licence. RCom is under insolvency proceedings before the Mumbai bench of the National Company Law Tribunal and has been under moratorium since May 15, 2018. The company has spent over Rs 10,000 crore to acquire spectrum, Senior Advocate Ravi Kadam informed the tribunal. The NCLT is set to decide whether spectrum dues payable by RCom to the Department of Telecommunications qualify as operational or current dues. For now, the tribunal has granted interim relief making way for RCom to continue providing telecom services till Aug. 12.
12.01 AM Jul 29th
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