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SC to decide telecom firms’ plea for release of Rs 3,300 crore bank guarantees
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SC to decide telecom firms’ plea for release of Rs 3,300 crore bank guarantees
Indu Bhan
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Synopsis
The Supreme Court will decide pleas by Bharti Airtel, Vodafone Idea and other telecom operators seeking release of ₹3,300 crore in bank guarantees following a Bombay High Court ruling against retrospective one-time spectrum charges. The apex court declined to direct the government, noting it has not stayed the high court order.
IANS
The Supreme Court will decide whether telecom operators can get Rs 3,300 crore in bank guarantees issued after the Bombay High Court struck down retrospective one-time spectrum charge demands.
As directed by the Bombay HC, new Delhi: The Supreme Court will decide the plea of telecom operators, including Bharti Airtel and Vodafone Idea (Vi) for release of ₹3,300 crore worth bank guarantee. While refusing to provide any direction to the government.
The SC while issuing notice to the telecom businesses last week had refused to stay a June 8 Bombay HC order that set aside the Centre’s one-time spectrum charge (OTSC) demands raised against Airtel, Vi, and others for the 2008-2012 period, however, the administration can on its own release the bank guarantee as the apex court hasn’t stayed the HC decision, a top court bench led by Justice BV Nagarathna said Tuesday. The high court held that the government was unable to justify its action of levying OTSC retrospectively.
Challenging the Bombay HC’s judgment, the administration told the SC that the HC erroneously quashed its November and December 2012 decisions produced after the Union cabinet approved retrospective levy of OTSC for spectrum in the 900 MHz and 1800 MHz bands.
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Supreme Court telecom bank guaranteestelecom operators plea bank guaranteeAirtel Vodafone Idea Rs 3300 croreretrospective OTSC government decisionBharti AirtelVodafone IdeaBombay High CourtSupreme Court of IndiaIndian Administration
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Supreme Court telecom bank guaranteestelecom operators plea bank guaranteeAirtel Vodafone Idea Rs 3300 croreretrospective OTSC government decisionBharti AirtelVodafone IdeaBombay High CourtSupreme Court of IndiaIndian Administration
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