New Delhi July 23 (IANS) Reliance Communications (RCOM) has informed the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) that while Department of Telecommunications (DoT) has raised a demand for payment of Rs 774 crore on RCOM the said payment has already been made to DoT vide the encashment of bank guarantees by DoT earlier.
According to sources RCOM therefore only needs to renew the encashed bank guarantees which will be payable only in 2019.
Therefore RCOM has sought some time and the TDSAT granted an extension on this till August 10 2018.
Sources said DoT is already sitting on excess bank guarantee encashment of around Rs 540 crore. Also in a July 3 2018 order TDSAT has asked DoT to return additional bank guarantee of Rs 2 000 crore to RCOM.

--IANS ag/sed