Business

TDSAT grants relief to Reliance Communications

Stays demand of Bank Guarantee of Rs 2,900 crore by the DoT

Mumbai.

The Telecom Disputes Settlement & Appellate Tribunal (TDSAT) has stayed Department of Telecommunications (DoT) demand for Rs 2,900 crore Bank Guarantee (BG) from Reliance Communications (RCOM).

According to RCOM, the TDSAT, vide its interim order dated October 1, 2018, has stayed the DoT’s demand.

"Reliance Communications Limited has been granted relief by the Telecom Disputes Settlement & Appellate Tribunal vide its interim order dated 1 October 2018, whereby TDSAT has stayed the demand of Bank Guarantee (BG) of Rs 2,900 crore by the Department of Telecommunications," the company said in a statement on Wednesday.

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