Photo: HTNew Delhi: The Supreme Court on Monday agreed to hear a plea by Reliance Communications Ltd (RCom) challenging an order of the Telecom Disputes Settlement Appellate Tribunal (TDSAT) rejecting additional time to furnish Rs774.19 crore for deferred spectrum liabilities. The last dates for payment of the deferred spectrum liability of Rs281.4 crore and Rs492.8 crore were 5 April and 19 April, respectively. Quoting “unforeseen and uncalled for circumstances beyond their control”, RCom urged the court to stay the order of the appellate tribunal. RCom claimed the appellate tribunal had failed to appreciate that rejecting additional time would hinder the debt restructuring being undertaken at the behest of its lenders and secured creditors. Sale of its tower and fibre assets is under challenge at the National Company Law Appellate Tribunal (NCLAT).

Source: Mint April 23, 2018 17:37 UTC