IBC

Supreme Court of India: “IBC Cannot Restructure Ownership of Natural Resources” — Holds Spectrum Is Not a Corporate Asset; Licence and Spectrum Usage Dues Are Sovereign Considerations, Not Operational Debt; Government Dues Cannot Be Wiped Off in Insolvency

Court’s decision The Supreme Court of India allowed the appeals filed by the Union of India and set aside key findings of the National Company Law Appellate Tribunal (NCLAT), holding…