Bharti drops on reports of demand notice from DOT

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts
    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

    Read more about: bharti airtel
    Story first published: Thursday, May 30, 2013, 12:13 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more