The court ruled that natural assets like telecom spectrum cannot be treated as transferable private assets under IBC.
As a consequence of SC's decision not to entertain the plea, Airtel chose to withdraw its application.
On Aircel being admitted to insolvency, Airtel owes it Rs 453 crore towards STA and other dues. The Resolution Professional (RP) of Aircel called upon Airtel to make the payment in 2019. However, Airtel paid only Rs 341 crore and retained Rs 112 crore.
A Delhi court has allowed Congress leader Karti Chidambaram, an accused in the alleged Aircel-Maxis and INX Media scams, to travel to France and the UK from September 15 to 27.