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

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.