Until Parliament and Insolvency and Bankruptcy Board of India catch up, TSP resolutions, as well as those of other natural resources, will sit in the gap that the Supreme Court has just defined.

Court did not adequately discuss the provisions of the IBC to determine whether the spectrum license can be considered an asset and can be treated under the IBC.

The judgment of the Supreme Court has provided doctrinal clarity on the vexed issue of the treatment of spectrum under the IBC, but this clarity has come at a considerable cost.

The article examines several considerations around the question of whether spectrum is capable of being subjected to proceedings under IBC.