Telecom issue: NCLAT dismisses petitions, says IBC to prevail over Trai Act

Insolvency tribunal NCLAT has said that the Insolvency & Bankruptcy Code (IBC) would prevail over the provision of the Telecom Service Regulatory Authority of India (Trai) Act, as it dismissed two petitions filed by the sectoral regulator in the RCom matter.

The National Company Law Appellate Tribunal (NCLAT) dismissed the plea by the telecom regulator Trai against the classification of the balances of the customers of RCom as operational debt by the resolution professional in the insolvency proceedings of the defunct service provider.