New Delhi: New mobile service provider Loop Telecom has approached telecom tribunal TDSAT seeking a directive to the Telecom Ministry for the release of performance bank guarantees submitted in lieu of spectrum allotted to the firm, claiming it has rolled out its network.
Loop Telecom, which has been allotted licences for 21 circles, submitted before the tribunal that it has completed its roll-out obligations and as per the terms and conditions, its PBG should now be released.
It further submitted that its PBG was slated to expire in the first week of December and requested the tribunal to give interim protection, as the DoT may take some action against it.
With respect to this submission, the TDSAT Chairman assured the company that if the DoT imposes any penalty or takes any action, Loop can challenge the same before the tribunal.
The Telecom Disputes Settlement and Appellate Tribunal has listed Loop's petition along with a similar case lodged by Etisalat DB for hearing on December 8.
Etisalat DB had approached the tribunal with the argument that as per Unified Access Service Licence (UASL) terms and conditions, their PBG should be released.
Etisalat DB, a JV between DB realty and UAE-based telecom major Etisalat, has contended that it has completed roll-out obligations in 11 circles and PBGs amounting to Rs 160 crore that were submitted at the time of spectrum allotment should now be released.
Etisalat had given performance bank guarantees worth Rs 212 crore for spectrum allotted to it in 15 circles.