# In the matter of Bharti Airtel Limited and Another vs. Vijaykumar V. Iyer and Others

> SC judgment dated 2024-01-03. Citation: TCN-2024-SC-00108. Bharti Airtel Limited and Bharti Hexacom Limited entered into spectrum trading agreements with…

- **Court:** SC
- **Order date:** 3 Jan 2024
- **Citation:** TCN-2024-SC-00108
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/bharti-airtel-limited-and-another-vs-vijaykumar-v-iyer-and-others-7482fc4c

## Summary

### Background

Bharti Airtel Limited and Bharti Hexacom Limited entered into spectrum trading agreements with Aircel Limited and Dishnet Wireless Limited. The agreement was contingent on approval from the Department of Telecommunications. The DoT demanded bank guarantees for license and spectrum usage dues from Aircel. Aircel approached the Telecom Disputes Settlement and Appellate Tribunal (TDSAT), which directed Aircel to submit bank guarantees. Airtel entities submitted bank guarantees on behalf of Aircel to the DoT. Airtel entities were to pay Rs.4,022.75 crores to Aircel entities, and they agreed to furnish bank guarantees to the DOT on behalf of Aircel, deducting Rs.586.37 crores. TDSAT later held that the DOT's demand of Rs.298 crores was untenable and directed the return of

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## Facts

In April 2016, Bharti Airtel Limited and Bharti Hexacom Limited entered into eight spectrum trading agreements with Aircel Limited and Dishnet Wireless Limited for the right to use the spectrum allocated to Aircel in the 2300 MHz band. The agreement was contingent on approval from the Department of Telecommunications (DoT). The DoT demanded bank guarantees for license and spectrum usage dues from Aircel. Aircel approached the Telecom Disputes Settlement and Appellate Tribunal (TDSAT), which directed Aircel to submit bank guarantees. Airtel entities submitted bank guarantees on behalf of Aircel to the DoT. Airtel entities were to pay Rs.4,022.75 crores to Aircel entities, and they agreed to furnish bank guarantees to the DOT on behalf of Aircel, deducting Rs.586.37

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## Issues and analysis

### Issue 1: Whether the provisions of the IBC relating to the Corporate Insolvency Resolution Process recognize …

**Ratio:** The IBC is a complete code, and its provisions relating to the Corporate Insolvency

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**Reasoning:** The court reasoned that the IBC is a complete code and that Sections 238 and 243 take

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**Interpretation:** The court interpreted the IBC as a self-contained code that does not permit

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**Application:** The court applied this ratio to the facts of the case, concluding that Airtel

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## Parties

- **Judges:** SANJIV K…; S.V.N. B…
- **Appellants:** BHARTI AIRTEL…
- **Respondents:** Aircel Li…; Vijaykumar…
- **Other parties:** Affir…

## Timeline

- **2016-04-01 — Spectrum Trading…**: Bharti Airtel Limited and Bharti Hexacom Limited entered into eight spectrum trading…
- **2016-06-03 — TDSAT Interi…**: TDSAT directed Aircel entities…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 25 — Duties of resolution professional](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-25)

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