Benchmarks
Nifty24,154.90-132.75

FEATURED FUNDS★★★★★

Motilal Oswal Midcap Fund Direct-Growth

5Y Return
23.3 %

Invest Now

Enter search text:

Business News›Industry›Telecom›Telecom News›SC to decide telecom firms’ plea for release of Rs 3,300 crore bank guarantees

Read Today's Paper

SC to decide telecom firms’ plea for release of Rs 3,300 crore bank guarantees

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

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, as directed by the Bombay HC. However, the government 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, while refusing to give any direction to the government.



The SC while issuing notice to the telecom companies 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. The high court held that the government was unable to justify its action of levying OTSC retrospectively.

Challenging the Bombay HC's judgment, the government told the SC that the HC erroneously quashed its November and December 2012 decisions made after the Union cabinet approved retrospective levy of OTSC for spectrum in the 900 MHz and 1800 MHz bands.

Add as a Reliable and Trusted News Source
Add Now!

(You can now subscribe to our WhatsApp channel)

(Catch all the Business News, Breaking News and Latest News Updates on The .)

…moreless

(You can now subscribe to our WhatsApp channel)


Read More News on
Supreme Court telecom bank guaranteestelecom operators plea bank guaranteeAirtel Vodafone Idea Rs 3300 croreretrospective OTSC government decisionBharti AirtelVodafone IdeaBombay High CourtSupreme Court of IndiaIndian Government

(Catch all the Business News, Breaking News and Latest News Updates on The .)

…moreless

Enter search text:

Continue reading with one of these options:
Limited Access
Free
Login to get access to some exclusive stories

& personalised newsletters
Login Now

Unlimited Access
Starting @ Rs120/month
Get access to exclusive stories, expert opinions &

in-depth stock reports
Subscribe Now

ET

Unlock Access to All Exclusives with ETPrime FREE TRIAL

15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers

Trial offer expiring in00 : 05 : 00

I'd rather pay ₹2599 now

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

Prime Account Detected!

It seems like you're already an ETPrime member with

Login using your ET Prime credentials to enjoy all member benefits

Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.

Unlock ETPrime's Exclusive Stories Today!

Subscribe to gain powerful insights on business, stock market and industry trends.

Big Price Drop! Flat 40% Off

Student Only Offer

Already a Member? Sign In now

Already a Member? Sign In now
Already a Member? Sign In now

Offer Exclusively For You

Save up to Rs. 700/-

ON ET PRIME MEMBERSHIP

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get Flat 40% Off

Then ₹ 1749 for 1 year

Avail Offer

Offer Exclusively For You

ET Prime at ₹ 49 for 1 month

Then ₹ 1749 for 1 year

Avail Offer

Special Offer

Get flat 40% off on ETPrime

Avail Offer
Avail Offer

Claim NowAlready a Member? Sign In now

Need Assistance?

Connect with an ETPrime expert for personalized support and guidance

+91 9484700004

' + h3 + '

' + h4 + '

' + listing + '

What’s Included with

ETPrime Membership

1Exclusive Insights That Matter

Uncover the truth with our investigative stories

Make strategic moves using the real-world case studies

Read industry-specific stories to identify emerging trends

Spot opportunities with
in-depth insights that matter

• 

  Trump temper on H-1B visas is forcing Indians to do these things to stay put in US

  

  What Adani’s US indictment means for India Inc’s overseas fundraising

• 

  Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer.

  

  Will China’s dollar bond sale in Saudi Arabia trump the US in financial world?

• 

  Huawei launches its own OS to compete with Google and Apple. But can it win beyond China?

  

  The problem with lab grown diamonds

• 

  Why a falling rupee is a better option for the economy

  

  A list of top 20 momentum stocks that have delivered massive returns in one year

2Invest Wisely With Smart Market Tools & Investment Ideas

Alpha Trade

Get daily trade ideas from SEBI-registered research analysts.

Investment Ideas

Grow your wealth with stock ideas & sectoral trends.

Stock Reports Plus

All-in-one stock research with Stock Score, peer comparison & key signals.

BigBull Portfolio

Get to know where the market bulls are investing to identify the right stocks.

Stock Analyzer

Check the score based on the company's fundamentals, solvency, growth, risk & ownership to decide the right stocks.

Market Mood

Analyze the market sentiments & identify the trend reversal for strategic decisions.

Stock Talk Live at 9 AM Daily

Ask your stock queries & get assured replies by ET appointed, SEBI registered experts.

3Stay informed anytime, anywhere with ET ePaper

ePaper – Print View

Read the PDF version of ET newspaper. Download & access it offline anytime.

ePaper – Digital View

Read your daily newspaper in Digital View & get it delivered to your inbox everyday.

Wealth Edition

Manage your money efficiently with this weekly money management guide.

4Times Of India Subscription (1 Year)

ePaper

Read the PDF version of newspaper. Download & access it offline anytime.

Deep Explainers

Explore the In-depth explanation of complex topics for everyday life decisions.

Health+ Stories

Get fitter with daily health insights committed to your well-being.

Personal Finance+ Stories

Manage your wealth better with in-depth insights & updates on finance.

New York Times Exclusives

Stay globally informed with exclusive story from New York Times.

5Enjoy Complimentary Subscriptions From Top Brands

Docubay Subscription

Stream new documentaries from all across the world every day.

Stories you might be interested in