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Telecom department barred from encashing Aircel’s bank guarantees

The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) has given temporary relief to bankrupt telco Aircel, as it barred the Department of Telecom from encashing bank guarantees of Aircel amounting to more Rs 1,200 crore. The telecom tribunal has said it will wait for the Supreme Court to hear another matter involving the two parties. The Department of Telecom moved to encash guarantees given by banks on behalf of Aircel and its two companies, alleging "major breach of terms and conditions" as Aircel filed for insolvency without giving an advance notice to the department. The DoT also said that the telco did not pay spectrum usage charge and license fee last quarter. The Supreme Court will hear a matter on one-time spectrum charges involving DoT and Aircel in two weeks on April 19. Last month, Aircel filed for bankruptcy with…

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