Supreme Court rejects Centre's plea challenging refund of Rs 104 cr ordered by TDSAT to RCom

TDSAT had on 21 December 2018 directed the Centre to return around Rs 104 crore to RCom after encashing bank guarantee of Rs 908 crore against spectrum charges of Rs 774 crore.

Press Trust of India January 07, 2020 13:12:07 IST
Supreme Court rejects Centre's plea challenging refund of Rs 104 cr ordered by TDSAT to RCom
  • A bench of justices R F Nariman and S Ravindra Bhat said that they did not find any merits in the appeal

  • TDSAT had on 21 December 2018 directed the Centre to return around Rs 104 crore to RCom after encashing bank guarantee of Rs 908 crore against spectrum charges of Rs 774 crore

  • The Department of Telecom has already adjusted Rs 30.33 cr

New Delhi: The Supreme Court on Tuesday rejected the Centre's plea challenging TDSAT's order directing refund of around Rs 104 crore to Reliance Communication.

A bench of justices R F Nariman and S Ravindra Bhat said, "We don't find any merits in the appeal".

The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) had on 21 December 2018 directed the Centre to return around Rs 104 crore to RCom after encashing bank guarantee of Rs 908 crore against spectrum charges of Rs 774 crore.

The Department of Telecom has already adjusted Rs 30.33 crore.

 

Updated Date:

also read

Anil Ambani led RCom announces debt revival plan, ropes in new investor; shares up 35%
Business

Anil Ambani led RCom announces debt revival plan, ropes in new investor; shares up 35%

Announcing the resolution plan, company chairman Anil Ambani told reporters that the new plan has the support of a Chinese lender that had dragged it to the NCLT for dues running into $1.8 billion, and would see RCom bringing down its mountain of debt by Rs 25,000 crore.

RCom shares jump over 14% on buzz that debt-ridden company selling real estate assets to Canada's Brookfield
Business

RCom shares jump over 14% on buzz that debt-ridden company selling real estate assets to Canada's Brookfield

When contacted RCom declined to comment on development, while email query sent to Brookfield elicited no reply

Reliance Communications reinstates bank guarantees worth Rs 774 cr with DoT; says asset sale on track
Business

Reliance Communications reinstates bank guarantees worth Rs 774 cr with DoT; says asset sale on track

RCom had recently got a breather from the telecom tribunal, TDSAT, on the licence and spectrum cancellation show-cause notice served by the DoT.