MUMBAI: Indian lenders rushed to be included in a case involving recovery of US$19bil of past dues from telecom companies after a Supreme Court judge questioned banks’ right to sell insolvent carriers’ airwaves.
Lenders led by State Bank of India in a plea said any move to ban bankrupt companies such as Aircel Ltd and Reliance Communications Ltd from selling airwaves, leased from the government, will sink their insolvency resolution process and can cause serious prejudice to lenders, according to sources. State Bank didn’t respond to an email seeking comment.
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