Showing posts with the label Telecome

Vodafone Idea moves TDSAT to recover 3322 Bank Guarantees

V odafone Idea, the country’s high medium operator, has enraptured the medium tribunal to recover bank guarantees worth Rs 3,322.44 crore that was paid ‘under protest’ to induce the government’s nod for the merging of Vodafone India and Idea Cellular. The bank guarantee was provided to the department of telecommunications (DoT) on account of one-time spectrum charges (OTSC) as a precondition for approving the merger. 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 g