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Policy & Regulation
DoT asked to return Videocon Telecom’s bank guarantee
TT Correspondent |  |  31 Oct 2012

 The Department of Telecommunications (DoT) has been ordered by the tribubal TDSAT to return the Performance Bank Guarantee (PBG) submitted by Videocon in Rajasthan, Karnataka  Himachal Pradesh, Orissa, and UP (West) circles.

Allowing the petitions TDSAT ruled that the Respondent (DoT) cannot take advantage of its own wrong.

It also directed the Respondent (DoT) is hereby directed to return the PBGs, in respect of the aforementioned circles," said the Telecom Disputes Settlement and Appellate Tribunal.

The firm had approached the TDSAT for revision of its bank guarantee after completing its roll-out obligations arguing that it has completed the mandatory 50 per cent and PBG should be reduced.

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31 Oct 2012(IST)  
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