https://www.taxtmi.com/caselaws?id=300885 Spectrum is treated as a scarce natural resource held by the State in trust, while the telecom operator's right to use spectrum is a limited intangible asset that can fall within insolvency proceedings. The telecom licence and spectrum-use rights are subject to the interim resolution professional's control under the Insolvency and Bankruptcy Code, and moratorium protection applies only conditionally, subject to compliance with current dues. Dues under the licence and deferred spectrum instalments are characterised as operational dues, not financial debt, and the spectrum cannot be treated as a lender's security interest where licence conditions and trading guidelines require clearance of the licensor's dues. The ruling preserves the Government's priority and limits CIRP use to evade public dues. en-us Tue, 13 Apr 2021 00:00:00 +0530 Tue, 01 Mar 2022 20:37:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300885 Spectrum is treated as a scarce natural resource held by the State in trust, while the telecom operator's right to use spectrum is a limited intangible asset that can fall within insolvency proceedings. The telecom licence and spectrum-use rights are subject to the interim resolution professional's control under the Insolvency and Bankruptcy Code, and moratorium protection applies only conditionally, subject to compliance with current dues. Dues under the licence and deferred spectrum instalments are characterised as operational dues, not financial debt, and the spectrum cannot be treated as a lender's security interest where licence conditions and trading guidelines require clearance of the licensor's dues. The ruling preserves the Government's priority and limits CIRP use to evade public dues. Case-Laws Insolvency and Bankruptcy Tue, 13 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300885