Vodafone Idea misses Rs 350-crore bank guarantee payment; may not face penal action

New Delhi: Vodafone Idea (Vi) missed paying its second bank guarantee (BG) of about Rs 350 crore to cover for spectrum bought in a 2012 auction and which was due November 1, said officials familiar with the matter. This follows India’s third-largest telecom operator missing payment of more than Rs 4,600 crore BG this September for a 2016 spectrum auction.