A newspaper vendor arranges his papers in a stall next to a Reliance Communications Reliance Telecom street kiosk, in Mumbai. (Photographer: Prashanth Vishwanathan/Bloomberg News)

NCLAT Stays Telecom Department’s Notice To RCom For Cancellation Of Spectrum Licence

The National Company Law Appellate Tribunal stayed two notices issued by the Department of Telecommunications to debt-laden Reliance Communications Ltd. for scrapping its spectrum permits due to a delay in payment.

The two-member bench of Justice SJ Mukhopadhyay and Justice Bansi Lal Bhat also stayed the DoT’s letter to Axis Bank Ltd. to invoke Rs 2,000-crore bank guarantees given by the Anil Ambani-led company, newswire PTI reported.

The appellate tribunal’s decision came over hearing of an application moved by RCom. In its arguments, the telecom operator cited the NCLAT’s Feb. 4 order that said no one can sell, alienate, or create third-party rights over RCom’s assets.

The NCLAT listed the case for next hearing on April 8.