DoT to issue notice to Vi for missing date to submit Rs 6,091 crore bank guarantee

Vodafone Idea has missed the March 10, 2025 deadline to provide a bank guarantee or cash payment to the Department of Telecommunications (DoT) for a 2015 spectrum auction shortfall. The telecom department will now likely issue a formal notice to the struggling telecom operator.

The DoT official, according to a Moneycontrol report, said that the department will act according to the terms and conditions of the licence and spectrum allocation.

According to a BSE filing by Vi dated February 14, DoT had asked the telco to provide a bank guarantee of Rs 6,090 crore and has set a deadline of March 10 for compliance.

"The aggregate payment made by the company for each of spectrum auctions are greater than the pro-rated use of spectrum other than for the 2015 auction, where there is a one-time partial shortfall, and DoT has requested either to provide a bank guarantee of Rs. 60,907 mn for one year or make a cash payment of Rs.54,932 mn by 10 March. 2025 i.e. thirteen months in advance of the next installment," Himanshu Kapania, Non-Executive Director of Vodafone Idea said.

Vodafone Idea is said to be in discussions with the telecom department to figure out a resolution as it lacks the funds to meet the requirement.