The Bench pointed out that its earlier judgment had not directed the Department to invoke the guarantees.
RCom argued that the ₹801 crore forming part of the insolvency estate would otherwise be distributed among the company’s creditors in accordance with the priority mechanism under the IBC. The invocation would instead give the Department priority over the amount, it was submitted.
The company also said that a review petition against the spectrum judgment was pending. Invocation of the guarantees before the review was decided would render the review infructuous, it argued.