Given Aircel owes the government Rs 12,389 crore by way of AGR dues, the NCLAT ruling that its spectrum cannot be transferred—without that, the insolvency process will grind to a halt—is a big victory for the government. Indeed, the same principle will also apply to RCom that is also in the insolvency courts and owes the government more than double at Rs 25,199 crore of AGR dues.

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