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Reliance Communications (RCOM) informed the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) that if the Department of Telecommunications (DoT) raised a claim for Rs 774 crore on the RCOM, the said payment has already been made to DoT see the cashing of bank guarantees by DoT earlier.
According to the sources, RCOM therefore only needs to renew the bank guarantees collected, which will only be payable in 2019.
As a result, RCOM requested some time and the TDSAT granted an extension on this until August 10, 2018.
Sources said that DoT is already sitting on the cashing out of the excess bank guarantee of about Rs 540 crore. In addition, in an order of 3 July 2018, TDSAT asked DoT to return an additional bank guarantee of Rs 2,000 crore to RCOM.
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