Government Challenges NCLT Resolution Plan for Rolta; RCom Seeks Review of SC Spectrum Ruling

The Indian government has appealed to the National Company Law Appellate Tribunal (NCLAT) against the National Company Law Tribunal's (NCLT) approval of a Rs 900 crore resolution plan by Ashdan Properties for debt-laden Rolta India, citing minimal recovery of statutory dues owed to the government. Separately, Reliance Communications' resolution professional filed a review petition in the Supreme Court challenging a ruling that telecom spectrum is not a corporate asset under the Insolvency and Bankruptcy Code (IBC), arguing this exclusion undermines insolvency processes for sectors reliant on government-granted rights.