Bharti drops on reports of demand notice from DOT

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Bharti drops on reports of demand notice from DOT
Shares in Bharti Airtel dropped almost 2 per cent in trade on reports that the Department of Telecom is likely to slap a demand notice of Rs 650 crore on the company for allegedly violating licence norms on subscriber local dialing (SLD) services.

"DoT this week has approved imposition of demand notices of financial penalty of Rs 500 crore and Rs 100 crore respectively on Bharti Airtel for violating licence conditions by provisioning of SLD services," sources told PTI.

According to a PTI report Telecom Minister Kapil Sibal has approved the recommendations of a DoT committee which stated that the maximum permissible financial penalty of Rs 50 crore each for 13 circles where the violations took place may be imposed on Bharti Airtel.

When contacted by PTI, a Bharti Airtel spokesperson said, "We haven't received any such notice and therefore will be unable to comment."

The committee also added that Bharti Airtel should be asked to provide the call detail records (CDRs) of all calls in respect of the SLD service and the loss incurred to national exchequer in the form of licence fee and spectrum charges should also be recovered from the company.

GoodReturns.in with inputs from PTI

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