Reliance Communications files review plea against SC order on spectrum sale under IBC

Reliance Communications (Rcom) has filed a review petition in the Supreme Court against the latter’s February 13 order, which stated that spectrum can’t be sold and transferred by companies under the Insolvency and Bankruptcy Code (IBC) as it’s a scarce public resource.

The company, through its resolution professional, said the judgement suffers from errors and failed to address and render the findings on several fundamental issues that were raised before the court, thereby necessitating a review.