Prospect

NCLAT rejects DoT’s Rs 469-crore claim appeal in Rolta insolvency

The National Company Law Appellate Tribunal (NCLAT) has dismissed the appeal filed by the Department of Telecommunications (DoT) challenging the resolution plan for debt-ridden Rolta India Ltd, holding that the plan has already been approved and implemented.

The DoT had challenged the resolution plan approved by NCLT while claiming statutory dues of Rs 469.09 crore towards unpaid licence fees.

A three-member NCLAT bench upheld the order of the Mumbai bench of the National Company Law Tribunal (NCLT), which on December 15, 2025, approved the Rs 900-crore resolution plan submitted by Ashdan Properties for Rolta India, a multinational technology company.

The tribunal observed that Rolta’s resolution plan had already been implemented, with the NCLT closing the company petition on February 2, 2026. Moreover, DoT never raised the issue of categorisation of its claims before the NCLT during hearings.

“The resolution process having attained finality and the plan having been acted upon, interference to the order dated 15.12.2025 at this stage would be inappropriate, and that the sanctity of an approved and implemented resolution plan is not to be disturbed on claims that were not timeously agitated,” said the bench comprising Officiating Chairperson Justice Yogesh Khanna along with Members Barun Mitra and Ajai Das Mehrotra.

This was challenged by the DoT, an operational creditor, before the appellate tribunal NCLAT, claiming statutory dues of Rs 469.09 crore towards unpaid licence fees linked to adjusted gross revenue (AGR) dues for FY2005-06 and FY2006-07. DoT had granted Rolta Internet Service Provider (ISP) license.

However, the resolution professional classified DoT’s claim as “not acceptable but contingent” citing an interim stay granted by the Telecom Disputes Settlement and Appellate Tribunal (TDSAT).

IIFL Finance crosses 3,000 Gold Loan branches

IIFL Finance, a leading NBFC, has announced crossing 3,000 dedicated Gold Loan branches across India.

Mayank Sharma, Head – Gold Loan, IIFL Finance, said the milestone reflects the company’s commitment to providing timely institutional credit to entrepreneurs, farmers, traders and self-employed individuals, irrespective of location.

“Millions of families own gold but remain underserved by formal finance. Our expanding network converts this trusted household asset into productive capital to help customers grow businesses, manage seasonal cash flows and meet financial needs with confidence,” Sharma said.

The company added that the wider network will boost financial inclusion in tier-2, tier-3 towns and rural areas, powering MSME lending.