Etisalat DB seeks release of Rs 160-cr PBG, moves TDSAT

NEW DELHI: Claiming it has completed roll-out of network in 11 circles within the stipulated time, new operator Etisalat DB on Wednesday approached the telecom tribunal TDSAT requesting a direction to the DoT to release its performance bank guarantee (PBG).

Etisalat DB, a JV between DB realty and UAE-based telecom major Etisalat, has contended that it has completed the criteria of roll-out obligations in the 11 circles and now the PBG of Rs 160 crore, submitted at the time of spectrum allotment, should be released.

The Telecom Disputes Settlement and Appellate Tribunal has asked the DoT to clarify its stand as the financial guarantee of the Etisalat was going to lapse in January 2012 and the banks have to be intimated a month prior to that. Etisalat has given a PBG of Rs 212 crore for the spectrum alloted to it in 15 circles.