SC directs DoT to not invoke Airtel’s bank guarantees for non-payment of Videocon AGR dues

The Supreme Court has granted temporary relief to Bharti Airtel and asked the telecom regulator to not invoke the telco's bank guarantees for three weeks over non-repayment of Videocon's AGR dues.

The Supreme Court has asked the Department of Telecommunication (DoT) to not invoke Bharti Airtel’s bank guarantees for three weeks over non-payment of adjusted gross revenue (AGR) dues of defunct telecom firm Videocon Telecommunications. The court’s ruling is a temporary relief for Bharti Airtel as Videocon’s AGR dues amount to Rs 1,376 crore. It may be noted that Airtel had tied up with Videocon to use its spectrum in 2016.