Airtel, Voda penalty: Encashment of bank guarantees put on hold

Airtel, Voda penalty: Encashment of bank guarantees put on hold

New Delhi, October 12

Telecom tribunal TDSAT on Tuesday asked the Department of Telecom to put on hold the encashment of bank guarantees in the penalty case of Bharti Airtel and Vodafone Idea till the next date of hearing.

The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) Bench headed by Justice Shiv Kirti Singh listed the matter for hearing on October 26.

“... No encashment of bank guarantee shall be resorted to till the next date,” Singh said. As per the Department of Telecom, companies are required to pay the penalty by October 21. The telecom tribunal did not grant a stay on the penalty notice.

Bharti Airtel and Vodafone Idea moved the telecom tribunal to challenge Telecom Department’s demand notices for payment of Rs 3,050 crore cumulative penalties in the points of interconnect matter. — PTI

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