NEW DELHI: India's Supreme Court on Friday (Feb 15) ordered top telecom companies to pay US$13bil in unpaid spectrum and licensing fees by March 17 or face punishment in a fresh blow to ailing mobile carriers. Shares in Vodafone Idea, which said it would be hardest hit by the ruling, fell 23 % on Mumbai's Sensex Index exchange.
Vodafone Idea SIM card packets are arranged at a store in Mumbai, India. Telecom companies including Vodafone Idea, Reliance Jio and Bharti Airtel were told to US$13bil in past dues by March 17 or face punishment in a fresh blow to ailing mobile carriers in India. - Bloomberg
Bharti Airtel and Reliance Jio -- owned by Asia's richest man Mukesh Ambani -- were also hit by the order, which comes after the companies failed to obey an October ruling demanding payment of overdue levies within three months. Companies argue they should be based on income from only their telecoms business, while the court ruled they should be calculated on the amount earned from all business dealings, including handset sales and other income.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Supreme Court orders Indian telcos to pay US$13b or face action | Malay MailNEW DELHI, Feb 14 — India’s Supreme Court today ordered top telecom companies to pay US$13 billion (RM53.8 billion) in unpaid spectrum and licensing fees by March 17 or face punishment in a fresh blow to ailing mobile carriers. Shares in Vodafone Idea, which said it would be hardest hit by the...
Read more »
LTTE: Court rejects DAP member Suresh Kumar’s bail application | Malay MailKUALA LUMPUR, Feb 14 ― The High Court here today dismissed an application for bail by DAP member, V. Suresh Kumar, who is facing a charge with giving support to the LTTE terrorist group. Judge Collin Lawrence Sequerah dismissed the 44-year-old accused's application on grounds that an offence on...
Read more »
Judiciary better under Pakatan, says former Court of Appeal judge | The Malaysian InsightMah Weng Kwai says people’s faith in justice system restored, less political interference in recent years.
Read more »
Sabah court to make history on Wednesday by using AI in sentencingKOTA KINABALU: History will be made on Wednesday when Artificial Intelligence (AI) will be used for the first time by the Malaysian judiciary in the process of meting out a sentence in a Sabah court.
Read more »
Change in political winds restoring faith in local judiciary, says former appeals court judge | Malay MailSHAH ALAM, Feb 14 — Malaysians are regaining their faith in the nation’s judicial system since the change in the political landscape, says Justice Datuk Mah Weng Kwai. The former appeals court judge said restoring the people’s faith in the judiciary took a long time, but with less political...
Read more »
French Open to be Federer's only clay-court appearance in 2020The 38-year-old has been cutting down on tournaments in a bid to prolong his career. FMTNews FrenchOpen
Read more »