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RCOM misses paying spectrum dues for the second time

April 08, 2019
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Reliance Communications (RCOM) has missed its second straight spectrum payment of about Rs 2.81 billion, due on April 5, 2019. The operator is banking on a case filed with the National Company Law Appellate Tribunal (NCLAT) to stop the the Department of Telecommunications (DoT) from cancelling its licences and withdrawing the airwaves.

The tribunal recently stayed DoT’s show-cause notice to RCOM and asked the telco to explain why its licence and spectrum for Mumbai circle should not be withdrawn after defaulting on a Rs 210 million spectrum payment that fell due in March, 2019.

RCOM had responded by saying it should be exempted from paying the dues because it was under a payment moratorium from an earlier appellate order related to a separate filing for insolvency and therefore, its licence cannot be revoked.

RCOM also stated that DoT is yet to return Rs 20 billion of bank guarantees despite an appellate court’s orders.

 
 
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