Shares in telecom companies fell after reports that the Department of Telecom (DOT), would soon issue a demand notice of over Rs 12,500 crores.
"The DoT is in the process to issue demand notice of over Rs 12,500 crore to six telecom operators -- RCom, Tata Tele, Vodafone , Airtel , Idea and Aircel -- which the CAG has found to have under-reported revenues during the UPA regime," a Telecom Ministry official was quoted by PTI as saying.
If the fresh demands materialize, it could be a big blow to the telecom operators, who have had similar issues in the past.
Telecom companies are already grappling with issue of large debts and severe competition. However, as we have seen in the past, the telecom operators may contest the move.