Exterior of Vodafone Idea store (Source: BloombergQuint).
A debt is a debt, even when the obligation to pay it is also a regulatory condition.In a 2003 ruling, the U.S. Supreme Court said so while dismissing the Federal Communications Commission’s attempt to revoke the spectrum licences from bankrupt NextWave Personal Communications Inc. The court relied on a U.S. bankruptcy law provision that bars the government from revoking an insolvent debtor's licence solely because of a failure to pay...