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Home » IANS » Fertiliser maker GNFC demanded Rs 15,000 cr telecom dues

Fertiliser maker GNFC demanded Rs 15,000 cr telecom dues

By IANS
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Mumbai, Jan 2 (IANS) Fertiliser maker Gujarat Narmada Valley Fertilizer and Chemicals has received a “Demand Notice” from the Department of Telecommunications (DoT), to deposit Rs 15,000 crore dues by January 23.

The company in a regulatory filing said it has been directed to deposit the total outstanding “amount of Rs 15,019 crore before January 23, in respect of financial years from 2005-06 to 2018-19 in connection with V-SAT & ISP Licenses held by the company.

The notice came from the Office of the Controller of Communication Accounts, Department of Telecommunications (DoT), Ministry of Communications, Government of India, Gujarat Telecom Circle, Ahmedabad.

“The company is presently examining said Demand Notice and judgement of Hon’ble Supreme Court of India by seeking expert legal advice in the matter. Based on the legal advice, the company will decide the future course of action in the subject Matter,” the company said in a regulatory filing.

The shares of Gujarat Narmada Valley Fertilizer and Chemicals closed at Rs 168.25 a piece, higher by 3.79 per cent.

–IANS

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