Airtel submits Rs 644 crore bank guarantee in TDSAT for Tata Tele merger
Updated : May 28, 2019 07:02 AM IST
The TDSAT on May 2 granted a partial stay on a Rs 8,300-crore demand raised by the telecom department from Bharti Airtel for approving its merger with the consumer business of Tata Teleservices Ltd (TTSL).
The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) directed "the concerned authorities of the Union of India to take the merger of two companies and licence on record", subject to stay on one-time spectrum charges (OTSC) demand of around Rs 7,000 crore.
The tribunal also asked Airtel to submit a 50 percent payment of Rs 1,287.97 crore demand raised by the Department of Telecom (DoT) as OTSC for the Chennai circle licence extension from November 30, 2014, to September 27, 2021.