The National Company Law Appellate Tribunal stayed two notices issued by the Department of Telecommunications to debt-laden Reliance Communications Ltd. for scrapping its spectrum permits due to a delay in payment.
The two-member bench of Justice SJ Mukhopadhyay and Justice Bansi Lal Bhat also stayed the DoT's letter to Axis Bank Ltd. to invoke Rs 2,000-crore bank guarantees given by the Anil Ambani-led company, newswire PTI reported.
The appellate tribunal's decision came over hearing of an application moved by RCom. In its arguments, the telecom operator cited the NCLAT's Feb. 4 order that said no one can sell, alienate, or create third-party rights over RCom's assets.
The NCLAT listed the case for next hearing on April 8.
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