Bharti Airtel shares fall on possible Rs 650 crore fine
- Tanzanian student was not stripped, paraded naked: K'taka Home Minister
- National Herald case: Sonia, Rahul Gandhi move SC challenging Delhi HC order
- Budget session of Parliament to begin on Feb 23; Jaitley hopeful of GST
- Suspended UP chief engineer Yadav Singh arrested, Congress, BJP say probe links
- Will stand by Pakistan if it acts on terror: Rajnath Singh
Shares in Bharti Airtel Ltd fall nearly 2 percent after reports that the company could be asked to pay Rs 650 crore ($116 million) for alleged breach of telecoms licensing rules nearly a decade ago.
Bharti was allowing roaming subscribers to make and receive calls at local prices, which the telecoms ministry says bypassed rules for national long-distance calls, according to an official with knowledge of the matter. The services were allowed between 2002 and 2005, according to an internal memo seen by Reuters.
STOCK MARKETS LINKS
A Bharti Airtel spokesman declined to comment saying the company was yet to receive any notice from the ministry. Typically, the telecoms ministry asks companies to first explain why action should not be taken against them before sending the penalty notice.
Carriers including Bharti have in the past challenged in courts fees and penalties imposed by the government. The cases are still on.
- Outcome on Section 377 will depend on composition of the Constitution bench
- Inadequate staff, payment delays undermine MGNREGA in drought-hit Mahabubnagar
- ICDS, the primary scheme targeting malnutrition, needs to be broadened
- Rohith's death must focus attention on the rites of exclusion in the university
- Telescope: State in the bedroom
- The economy is best served by lowering interest rates and blocking protectionism