NCLAT directs Bharti Airtel, Bharti Hexacom to pay ₹112 crore to Aircel
14 July 2020
A three-member NCLAT bench on Monday set aside the order of the Mumbai bench of the National Company Law Tribunal (NCLT), which on May 1, 2019, granted a set-off of ₹112 crore to Bharti Airtel and Bharti Hexacom in their ₹453 crore Spectrum Trade Agreement with Aircel and Dishnet Wireless. Bharti Airtel and Bharti Hexacom had paid ₹341 crore to Aircel and Dishnet Wireless but had retained ₹112 crore to set off the dues owed by Aircel entities to Airtel entities.
A three-member NCLAT bench on Monday set aside the order of the Mumbai bench of the National Company Law Tribunal (NCLT), which on May 1, 2019, granted a set-off of ₹112 crore to Bharti Airtel and Bharti Hexacom in their ₹453 crore Spectrum Trade Agreement with Aircel and Dishnet Wireless. Bharti Airtel and Bharti Hexacom had paid ₹341 crore to Aircel and Dishnet Wireless but had retained ₹112 crore to set off the dues owed by Aircel entities to Airtel entities.
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