UNION OF INDIA vs M/S. MILLENIUM MUMBAI BROADCAST PVT. LTD

The Supreme Court upheld the decision of the Telecom Disputes Settlement & Appellate Tribunal regarding the licensing agreement for FM broadcasting services in Mumbai. The Court emphasized that the Respondent's obligation to pay the increased license fee was clear under the terms of the agreement, specifically referencing the guidelines issued by the Union of India. The Court held that the Respondent's failure to comply with the payment terms justified the encashment of the Bank Guarantee as stipulated in the agreement, thereby affirming the Tribunal's order.