In its petition to the Telecom Disputes Settlement and proceeding Tribunal (TDSAT), Vodafone Idea has also wanted quashing of a clause in the merger and acquisition rules which say that just in case of judicial intervention, DoT will obtain bank guarantees for associate quantity capable the demand it’s created on a telco towards OTSC. ET has seen a duplicate of the petition.
Vodafone Idea plan has argued that the demand of bank guarantees was discretional, discriminatory, illegal and unenforceable. Direct DoT to forthwith return every and every one bank guarantees which have been wrongly demanded /collected /received by DoT ought not are demanded /collected / received, by DoT, said the interim prayers of the firm. TDSAT can next hear the matter on October 20.
However, once the primary letter and no modification in DoT’s stances, Vodafone and plan had paid Rs three,926.34 large integer in money and a bank guarantee value three,322.44 crore, severally, so as to induce a speedy approval for the merger, that was cleared finish of August.
In September, Vodafone Idea once more wrote to the telecom department to figure the spectrum dues of Rs 3,926.34 crore it had paid to induce approval for the merger. It pointed to the difference of opinion with DoT in regulating charges and costs the merging entities paid for spectrum in certain circles like Himachal Pradesh, Tamil Nadu and Bihar.