March 22, 2018 / 6:24 AM / a month ago

BRIEF-Axis Bank Says It Has Not Moved Tribunal Against Dept of Telecommunications Move, As Reported In Media

March 22 (Reuters) - Axis Bank Ltd:

* SAYS CO CLARIFIES THAT IT HAS NOT MOVED TRIBUNAL AGAINST DOT MOVE, AS REPORTED IN MEDIA

* SAYS HAS PROVIDED A THIRD PARTY BANK GUARANTEE FAVORING DOT ON BEHALF OF A TELECOM COMPANY

* AXIS BANK -CO FILED INTERVENTION APPLICATION WITH TRIBUNAL FOR CLARIFICATION ON RELEASE OF PAYMENT WITH REGARDS TO A BANK GUARANTEE FAVORING DOT Source text - [AXIS BANK COMMITTED TO HONOUR ITS OBLIGATION UNDER ADVICE FROM TDSAT Axis Bank would like to clarify that it has not moved the Tribunal against the DOT move, as reported. Rajesh Dahiya, Executive Director, Axis Bank, said, “We have not moved the tribunal against the DOT move. In fact, Axis Bank has filed an intervention application with the tribunal seeking clarification with reference to release of payment with regards to one of the Bank Guarantees favoring DOT.]

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