www.courtkutchehry.com YOUTUBE VIDEOS- AGR DUES IN THE SUPREME COURT, SC RESERVED JUDGEMENT ON STAGGERED PAYMENT
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TOPIC
AGR
Dues In The Supreme Court, SC Reserved Judgement On Staggered Payment
SC has stated that
it wants details of spectrum sharing agreements entered into by all insolvent
telecos. Thus, it has directed telcos that are under insolvency to submit
details of the spectrum sharing agreements that they have entered into. SC
has also asked for RComm and Reliance Jio’s spectrum sharing agreement to
also be placed on record because it wants to know who would be liable for AGR
dues of RComm.
SBI’s submissions
were- It clarified that Committee of Creditors (CoC) has complete autonomy to decide
who gets how much
SBI submitted that
spectrum is an asset of a telecom company.
SBI said
operational creditors (like the DoT) cannot be paid at par with financial
creditors.
The matter is being
heard in the SC today i.e., August 17. Reliance Jio informed the Supreme Court
that there is no legal basis for transferring RComms’ dues, AGR or otherwise as
the two telecom operators do not share liabilities in their spectrum-sharing
agreement.
Solicitor General’s
Submissions on 17 August
SC had indicated
that entity using the spectrum must discharge the AGR dues. Sharing of
spectrum is different from spectrum trading.
View of DoT differs
from views of Ministry of Corporate Affairs (MCA) on sale of spectrum under the
Insolvency and Bankruptcy Code (IBC). View finalised by SC is that spectrum
cannot be sold under IBC.
People of the
country are owners of spectrum, held by the government in trust,
cannot be sold under IBC.
Ownership does not
get transferred. Spectrum is not defined as an asset under the IBC.
Government
continues to hold spectrum, in trust. Resolution plan for RCom has not yet been
approved.
Presented by
The-Brief Sanam Siddiqui
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