Vodafone Idea misses Rs 350-crore bank guarantee payment; may not face penal action

Vodafone Idea failed to pay its second bank guarantee of ₹350 crore due on November 1st for spectrum acquired in a 2012 auction. This follows a previous missed payment in September. The Department of Telecommunications is considering a proposal to waive bank guarantees for past spectrum auctions, which would primarily benefit the struggling Vodafone Idea.