The Telecom Disputes Settlement & Appellate Tribunal (TDSAT) has asked Etisalat DB to renew 25 per cent of the bank guarantee it submitted to the government at the time of allotment of spectrum.
However, it directed Loop Telecom to renew its Rs 5.80 billion financial bank guarantee submitted for a pan-India licence within a week.
The tribunal stated, “We are of the opinion that the interest of justice will be sub-served if the petitioner (Loop) is directed to renew the bank guarantee within one week from date without prejudice to its rights and contentions, subject to the observations made hereinbefore.?
It also directed that Etisalat DB “furnish an undertaking supported by an affidavit that it would, in the event this petition is dismissed or this order is otherwise modified or varied, furnish appropriate bank guarantees”.
