Spectrum allocated to Telecom Service Providers cannot be subjected to proceedings under IBC

State Bank of India Vs Union of India & Ors (Supreme Court of India) Supreme Court held that Spectrum allocated to Telecom Service Providers [TSPs] and shown in their books of account as an “asset” cannot be subjected to proceedings under Insolvency and Bankruptcy Code, 2016 [IBC]. Facts- The question for our consideration is whether telecom service providers (TSPs), called upon to pay the license dues by the Department of Telecommunication (DoT) can invoke moratorium on the basis of voluntary corporate insolvency resolution process under Insolvency and Bankruptcy Code, 2016 (IBC) for...