 order and directed the Centre to refund Rs 104 crore to Reliance Communications. ){kind=link}
The Supreme Court today rejected the government’s plea challenging the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) order and directed the Centre to refund Rs 104 crore to Reliance Communications.
The amount is the balance of the bank guarantee of spectrum which RCom will be paid by the telecom department.
The panel headed by Justice RF Nariman set aside government’s plea and said, “We don’t find any merits in the appeal.”
The TDSAT on December 21, 2018 had directed the Centre to return around Rs 104 crore after encashing bank guarantee of Rs 908 crore against spectrum charges of Rs 774 crore. This order was challenged by the government.
The payment was to be made over a period of 18 years.
As per reports, the telecom department was looking to keep the excess amount as buffer for other liabilities of RCom though the telecom operator wanted the money to be returned.
The department has already adjusted Rs 30.33 crores of the excess amount.
The National Company Law Tribunal had initiated insolvency proceedings against Reliance Communications in 2018 and the company filed bankruptcy in 2019.