"Rcom strongly refutes these wild, baseless and politically motivated allegations," the company spokesperson said.
Vardhan, who is fighting against Sibal from the national capital's Chandni Chowk constituency, at an election rally had alleged that the Telecom Minister waived Rs 650 crore penalty on RCom.
"The alleged penalty of Rs 650 crore was completely unsustainable and there is no question of any illegal waiver," the company said.
