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UV Asset Reconstruction permitted to sell Aircel's spectrum rights

The order is on the resolution plan for Aircel and its subsidiaries Dishnet Wireless and Aircel Cellular.

Topics
aircel | spectrum | National Company Law Tribunal

T E Narasimhan & Surajeet Das Gupta  |  Chennai/New Delhi 

Asset management company UV Asset Reconstruction Company (UVARCL) has been permitted to sell the right to use the spectrum held by Aircel in the 1800 and 2100 bands as part of the telecom company’s resolution plan the National Company Law Tribunal (NCLT) has cleared. The order is on the resolution plan for Aircel and its subsidiaries Dishnet Wireless and Aircel Cellular.

The outstanding debt of the three companies is around Rs 58,760 crore. Financial creditors will have to take a considerable haircut in this. According to the NCLT order, UVARCL has proposed to pay Rs 19,600 ...

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First Published: Fri, June 19 2020. 01:18 IST
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