NCLT Holds Outstanding DoT Dues Settled Under Resolution Plan Where No Spectrum Is Transferred

The NCLT Mumbai Bench approved Fastway Transmissions' ₹231.50 crore resolution plan for Quadrant TeleventuresLimited, holding that outstanding DoT dues could be settled under the IBC because the corporate debtor held telecom and ISP licences but no spectrum was involved in the resolution. Distinguishing the Supreme Court's decision in State Bank of India v. Union of India, the Tribunal held that the requirement to clear past dues as a condition for spectrum trading or transfer did not apply on these facts. It further directed that licence-related liabilities, including licence fees, AGR, interest, penalties and regulatory dues, stand settled in accordance with the approved plan. The ruling draws an important distinction between resolution of a corporate debtor holding telecom licences and a transaction involving transfer of spectrum.