Reliance Communications Faces ₹801.91 Crore DoT Bank Guarantee Encashment

DoT invoked/encashed bank guarantees totaling approximately ₹801.91 crore from Yes Bank, Punjab National Bank, Canara Bank and SBI for RCOM’s unpaid deferred spectrum instalments. The company is assessing legal and financial implications, including effects on liabilities and claims, within its ongoing CIRP. Context: crystallises the longstanding spectrum-liability overhang.