Supreme Court asks DoT not to invoke Airtel bank guarantee

CHENNAI: Bharti Airtel on Tuesday got three weeks time from the Supreme Court after the Department of Telecommunications (DoT) threatened to invoke the company’s bank guarantees to recover Rs 1,376 crore in pending AGR dues for spectrum sold to it by bankrupt Videocon Telecom (VTL).

While the SC said that Airtel would have to approach the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) with the argument that it wasn’t liable to pay Videocon’s AGR dues, it nevertheless directed the DoT to not invoke the company’s bank guarantees for three weeks.