TDSAT orders DoT to release RCOM bank guarantee

4 Jul 2018

The Telecom Dispute Settlement and Appellate Tribunal (TDSAT) has ordered the Department of Telecommunication (DoT) to release bank guarantees of INR20 billion (USD291 million) to Reliance Communications (RCOM), the Economic Times reports. The guarantees had been submitted in 2016 for one-time spectrum charges (OTSC) which have since been contested by the telco. As previously reported by TeleGeography’s CommsUpdate, RCOM closed down its retail mobile business in 2017 and is attempting to complete the sale of its various fibre, tower, spectrum and real estate assets to Reliance Jio Infocomm (Jio) and Brookfield to reduce its debt burden by around 55%.