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DoT forms committee to examine operators’ insolvency issues

April 11, 2019
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In a first, the Department of Telecommunications (DoT) has constituted an Insolvency Issues Committee that will examine how to protect the DoT’s interest in cases where telecom operators are undergoing insolvency proceedings.

The six member panel constituted by the DoT will be chaired by Shiwa Shankar Singh, member, technology, DoT. It will also look into the legal position of resources such as spectrum and recovery of dues as a creditor.

As per rules stated under the Insolvency and Bankruptcy Code (IBC), DoT is an operational creditor when telecom companies initiate Corporate Insolvency Resolution Process (CIRP). However, some members of the DoT believe that spectrum being a natural resource may fall outside the purview of the insolvency rules.

The move has been undertaken at a time when two telecom operators namely Aircel and Reliance Communications (RCOM) are undergoing bankruptcy proceedings.

 
 
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