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TDSAT directs DoT to release Rs 20 billion worth bank guarantee to RCOM

July 04, 2018

The Telecom Dispute Settlement and Appellate Tribunal (TDSAT) has directed the Department of Telecommunications (DoT) to release the bank guarantees that Reliance Communications (RCOM) had provided in 2016 to secure payment of spectrum-related charges. The bank guarantee amounts to Rs 20 billion.

The onetime spectrum charges (OTSC) dues are related to payment of market-linked prices for excess spectrum held by an operator. The DoT had asked RCOM to furnish Rs 20 billion in bank guarantees towards OTSC in late 2015. It further asked the operator to pay about Rs 66.6 billion in cash to enable its 850 MHz spectrum across 20 circles. The amount was equivalent to the difference between the price paid for the spectrum and the value obtained at the latest auction.

RCOM made both the payments in 2016 and immediately moved the tribunal against DoT, contesting the OTSC demand.

 
 

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