Delhi HC directs Reliance Communications to furnish 10 crore bank guarantee

The Delhi High Court yesterday dismissed the appeal filed by Reliance Communications Limited against an order of the arbitral tribunal which had directed it to furnish a bank guarantee of Rs. 10 crore.

Reliance Communications and Bharti Infratel Limited had entered into a Master Service Agreement in 2010. However, the former exited from the sites of Bharti Infratel in 2015 citing expiration of its 2G licenses, thereby breaking the agreement.

Bharti Infratel demanded an exit amount close to 40 crores, which . . .

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