Do not invoke Airtel, Vodafone Idea bank guarantees: TDSAT

NEW DELHI: In a temporary relief to Airtel and Vodafone Idea, telecom tribunal TDSAT on Tuesday asked the Department of Telecom (DoT) to put on hold the encashment of bank guarantees in the penalty case against the two telecom operators till the next date of hearing (October 26).

The DoT has assured that the telecom companies’ bank guarantees, worth over Rs 3,000 crore, will not be invoked. This development comes a day after Bharti Airtel and Vodafone Idea moved the telecom tribunal Telecom Disputes Settlement and Appellate Tribunal (TDSAT) to challenge the telecom department’s demand notices for payment of Rs 3,050 crore cumulative penalties in the points of interconnect matter