SME Times News Bureau | 14 Nov, 2019
Vodafone Idea on Thursday lost over 20 per cent during the early trade
on Thursday on reports that the Department of Telecommunications asked
the telecom firms to pay their revenue share dues within three months.
Bharti
Airtel also saw heavy selling pressure, falling over 5 per cent.
However, it recovered later to trade at Rs 363.15 apiece, down 1.45 per
cent.
IANS earlier reported that the Department of
Telecommunications (DoT) on Wednesday sent notices to the telcos, asking
them to pay the Adjusted Gross Revenue (AGR) dues on a self-assessment
basis within the next three months.
"It's the responsibility of
the licensee to pay the licence fees and other dues after carrying out
their own assessment as prescribed in the licence agreements. You are
therefore directed to make the payment in accordance with the order of
the Supreme Court of October 24 and submit the requisite documents to
ensure compliance within the stipulated timeframe," said the letter
issued to telcos by the DoT.
The DoT further said that the
Supreme Court in its final judgement of October 24 had disposed of the
AGR matter with the order that the appeals of the licensees were
dismissed.
