The State Bank of India (SBI) has filed a review petition with the Supreme Court of India regarding its February 13 ruling that deemed telecom spectrum as a non-asset in insolvency proceedings. SBI represents lenders to the bankrupt Aircel group, which owes over ₹13,000 crore (approximately $1.57 billion USD) to a consortium led by the bank. In its petition, SBI argues that the ruling contains significant errors and fails to address crucial legal questions about spectrum usage rights and the treatment of government dues under the Insolvency and Bankruptcy Code (IBC). The February ruling upheld the government's stance that spectrum is a sovereign asset and cannot be transferred during insolvency resolution. SBI cautions that this decision could adversely affect recovery prospects not only in telecom but also in other sectors reliant on state-granted rights, such as mining and power. The bank warns that the ruling may compel financial institutions to rethink their credit appraisal processes, potentially stifling investment in these sectors.