Vodafone Idea misses date to submit Rs 6,091 crore bank guarantee

Vodafone Idea has missed the deadline for submitting a bank guarantee worth Rs 6,091 crore towards the shortfall in its 2015 spectrum auction dues, sources said. The department of telecommunications (DoT) had directed the company to either furnish the bank guarantee or make a cash payment of Rs 5,493 crore by March 10.

This development comes after DoT provided Vodafone Idea with a waiver of Rs 24,800 crore in bank guarantees for spectrum auctions held in 2012, 2014, 2016 and 2021.