Aircel决议计划:央行UVARCL警告说

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State Bank of India seeks meeting with Finance Minister to save Aircel's resolution plan<\/h4><\/a><\/div>

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Court grants one month to CBI, ED to obtain LRs in Aircel-Maxis case<\/h4><\/a><\/div><\/div>
While clearing UVARCL\u2019s resolution plan for Aircel in June 2020, the NCLT asked the ARC to send its plan to RBI for a nod since ARC's are governed by the central bank.

UVARCL then sent the NCLT-approved plan to RBI, which rejected the proposal again, citing norms under the Sarfaesi Act, a legislation that allows banks and other financial institutions to auction residential or commercial properties to recover loans.

<\/div><\/div>In its notice to UVARCL, the central bank said it had denied permission as early as October 2019, before the NCLT cleared the proposal, the person said.

According to another industry<\/a> executive, the RBI also observed that if the NCLT had not asked for the central bank\u2019s approval, UVARCL would have gone ahead and implemented the Aircel resolution plan<\/a>.

Officials tracking the Aircel and RCom resolution cases said UVARCL sent at least six letters to the central bank between July 2019 and October 2020, informing it of the progress of the resolution plans.

\u201cThey have constantly written to the RBI on this matter, including immediately after the committee of creditors gave a go-ahead to the plan in September last year. But despite approving other resolution plans, the regulator has opposed this because of the equity investment element in the proposal,\u201d said an official.

An industry executive said that while the RBI\u2019s notice has gone only to UVARCL, it has a far and wide-reaching impact for the industry.

\u201cRBI is of the view that Sarfaesi needs to be amended before ARCs are allowed to act as resolution applicants and it is completely wary of the equity infusion in distressed asset resolution plans,\u201d the official said.

The RBI\u2019s rejection of the Aircel resolution plan brought into focus the conflict between the insolvency law \u2013 which allows ARCs to bid for bankrupt firms through equity infusion \u2013 and the Sarfaesi Act, which is silent on the matter.

The finance ministry is said to be open to amending the Sarfaesi Act. ARCs have asked the RBI to consider this a regulation issue and issue fresh guidelines because amendments take time.

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The central bank has further said that ARCs should not retain any control over the insolvent company after five years, thus indicating that it would have to find a buyer and exit the company in the medium term.","seolocation":"telecomnews\/rbis-new-norms-for-arcs-may-further-delay-aircel-rcom-debt-resolutions","seolocationalt":"RBI's new norms for ARCs may further delay Aircel & RCom debt resolutions","url_seo":"rbis-new-norms-for-arcs-may-further-delay-aircel-rcom-debt-resolutions"},{"msid":"86034167","stname":"Man arrested for duping Aircel of Rs 1.76 crore","artsyn":"Sharma procured the SIM cards in the name of Deepak Rawat. 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Department of Telecommunications (DOT) case has cast a shadow on the resolution plans of Aircel and Reliance Communication Ltd. (RCom).","seolocation":"telecomnews\/aircel-rcom-steering-towards-liquidation-resulting-in-rs-60000-cr-npa-for-indian-and-foreign-banks","seolocationalt":"Aircel & RCom steering towards liquidation, resulting in Rs 60,000 crore NPA for Indian, foreign banks","url_seo":"aircel-rcom-steering-towards-liquidation-resulting-in-rs-60000-cr-npa-for-indian-and-foreign-banks"},{"msid":"80491836","stname":"Aircel may seek permission to sell non-spectrum assets","artsyn":"\u201cAn option is to appeal to the NCLT (National Company Law Tribunal) to allow us to sell assets, besides spectrum, put money in the escrow account and use it for maintenance and paying the roughly 200 employees,\u201d an executive aware of the matter told ET on condition of anonymity.","seolocation":"telecomnews\/aircel-mulls-asking-nclt-to-allow-non-spectrum-sale","seolocationalt":"Aircel may seek permission to sell non-spectrum assets","url_seo":"aircel-mulls-asking-nclt-to-allow-non-spectrum-sale"},{"msid":"79452108","stname":"Delhi HC stays RBI show cause notice to UVARCL","artsyn":"The Delhi High Court on Friday stayed a Reserve Bank of India notice warning of possible cancellation of UV Asset Reconstruction Company Ltd\u2019s (UVARCL) registration, over what the central bank termed an illegal bankruptcy resolution proposal moved by the ARC for telecom firm Aircel.","seolocation":"telecomnews\/delhi-hc-stays-rbi-show-cause-notice-to-uvarcl","seolocationalt":"Delhi HC stays RBI show cause notice to UVARCL","url_seo":"delhi-hc-stays-rbi-show-cause-notice-to-uvarcl"},{"msid":"79333696","stname":"Aircel resolution plan: RBI warns UVARCL","artsyn":"The Reserve Bank of India has warned UV Asset Reconstruction Company (UVARCL) that its certificate of registration may be cancelled unless it explains by next week why it did not inform the insolvency court that the regulator had rejected its resolution plan for Aircel right at the outset.","seolocation":"telecomnews\/aircel-resolution-plan-rbi-warns-uvarcl","seolocationalt":"Aircel resolution plan: RBI warns UVARCL","url_seo":"aircel-resolution-plan-rbi-warns-uvarcl"},{"msid":"79129347","stname":"India needs to modernise telecom regulatory framework to attract investments: GSMA","artsyn":"The body said that economies are now digital and are competing internationally for investment, and the regulatory framework in any country impacts the investor behavior.","seolocation":"telecomnews\/india-needs-to-modernise-telecom-regulatory-framework-to-attract-investments-gsma","seolocationalt":"India needs to modernise telecom regulatory framework to attract investments: GSMA","url_seo":"india-needs-to-modernise-telecom-regulatory-framework-to-attract-investments-gsma"},{"msid":"79022608","stname":"Court grants one month to CBI, ED to obtain LRs in Aircel-Maxis case","artsyn":"The case relates to alleged irregularities in the grant of Foreign Investment Promotion Board (FIPB) approval in the Aircel-Maxis deal. The approval was granted in 2006 when P Chidambaram was the Union Finance Minister.","seolocation":"telecomnews\/court-grants-one-month-to-cbi-ed-to-obtain-lrs-in-aircel-maxis-case","seolocationalt":"Court grants one month to CBI, ED to obtain LRs in Aircel-Maxis case","url_seo":"court-grants-one-month-to-cbi-ed-to-obtain-lrs-in-aircel-maxis-case"},{"msid":"78883254","stname":"State Bank of India seeks meeting with Finance Minister to save Aircel's resolution plan","artsyn":"The request from the lead lender to the bankrupt mobile operator comes days after UV Asset Reconstruction Company - which has proposed to buy Aircel and most assets of another bankrupt telco Reliance Communications- met the finance minister and sought her intervention in this case.","seolocation":"telecomnews\/state-bank-of-india-seeks-meeting-with-finance-minister-to-save-aircels-resolution-plan","seolocationalt":"State Bank of India seeks meeting with Finance Minister to save Aircel's resolution plan","url_seo":"state-bank-of-india-seeks-meeting-with-finance-minister-to-save-aircels-resolution-plan"},{"msid":"78525939","stname":"Aircel lenders staring at a 30% hit due to regulatory delays","artsyn":"Aircel's lenders are likely to take a further hit of about 30% on their expected recovery of Rs 6,630 crore with regulatory delays further eroding the value of fibre and spectrum, people familiar with the matter, said.","seolocation":"telecomnews\/aircel-lenders-staring-at-a-30-hit-due-to-regulatory-delays","seolocationalt":"Aircel lenders staring at a 30% hit due to regulatory delays","url_seo":"aircel-lenders-staring-at-a-30-hit-due-to-regulatory-delays"},{"msid":"78317731","stname":"SC says NCLAT to decide on spectrum sale of bankrupt Aircel","artsyn":"The Supreme Court (SC) on Friday said that the appellate tribunal will take a call if spectrum of bankrupt telco Aircel can be sold while statutory dues remain.","seolocation":"telecomnews\/sc-says-nclat-to-decide-on-spectrum-sale-of-bankrupt-aircel","seolocationalt":"SC says NCLAT to decide on spectrum sale of bankrupt Aircel","url_seo":"sc-says-nclat-to-decide-on-spectrum-sale-of-bankrupt-aircel"},{"msid":"78310716","stname":"Telecom bankruptcies worth $6 billion left hanging as ministries argue over airwaves","artsyn":"Any uncertainty about lenders\u2019 rights over the key assets of operators could also discourage lending or bank guarantees to Bharti Airtel Ltd. and Vodafone Idea Ltd.","seolocation":"telecomnews\/telecom-bankruptcies-worth-6-billion-left-hanging-as-ministries-argue-over-airwaves","seolocationalt":"Telecom bankruptcies worth $6 billion left hanging as ministries argue over airwaves","url_seo":"telecom-bankruptcies-worth-6-billion-left-hanging-as-ministries-argue-over-airwaves"},{"msid":"78233640","stname":"'Telcos need to pay 10% of total AGR dues by Mar 31 irrespective of payment made'","artsyn":"Telecom operators, including Bharti Airtel and Vodafone Idea, which have pending adjusted gross revenue dues will have to pay 10 per cent of the total liability by March 31 irrespective of the part-payments made by them, according to government sources.","seolocation":"telecomnews\/telcos-need-to-pay-10-of-total-agr-dues-by-mar-31-irrespective-of-payment-made","seolocationalt":"'Telcos need to pay 10% of total AGR dues by Mar 31 irrespective of payment made'","url_seo":"telcos-need-to-pay-10-of-total-agr-dues-by-mar-31-irrespective-of-payment-made"},{"msid":"78170161","stname":"DoT hasn't issued any order mandating vendors to provide source code: Govt","artsyn":"The Department of Telecommunications has not issued any order regarding providing source code for security testing, minister of state for communications Sanjay Dhotre said in the Rajya Sabha on Thursday.","seolocation":"telecomnews\/dot-hasnt-issued-any-order-mandating-vendors-to-provide-source-code-govt","seolocationalt":"DoT hasn't issued any 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