India demands $2.1 billion telecom dues from fertilizer maker

By Rahul Satija

Gujarat Narmada Valley Fertilizers & Chemicals Ltd. stated India’s telecom ministry has requested it to pay 150.2 billion rupees ($2.1 billion) in overdue charges by Jan. 23.

The firm will search authorized recommendation within the matter, which pertains to licenses for satellite tv for pc telephones and web companies held between 2005 to 2019, in keeping with its trade submitting Wednesday.

The quantity sought is 20 instances Gujarat Narmada’s 7.four billion rupee internet revenue for the yr ended March 2019. India’s authorities, which has already exceeded its finances deficit goal, has been asking firms with telecom licenses to pay dues after the nation’s Supreme Court stated it could actually keep in mind a corporations whole income for calculating licensing charges.

GAIL India can be dealing with a 1.7 trillion rupees demand, Press Trust of India reported Dec. 22 with out saying the place it obtained the data. Vodafone Group Plc’s India enterprise, which must pay $four billion to the telecom ministry, in December stated it can stop operations if it doesn’t get authorities help.

Gujarat Narmada is a three way partnership by the federal government of the western Indian state of Gujarat and the Gujarat State Fertilizers & Chemicals Ltd., in keeping with its web site.

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