 "GNFC gets DoT demand notice for services worth over Rs 15000 crore")
State-owned Gujarat Narmada Valley Fertilizers & Chemicals Ltd. (GNFC) has received a demand notice from Department of Telecommunications (DoT) of Ministry of Communications for service dues worth over Rs 15000 crore.
Inclusive of interest, the demand notice by DoT seeks telecom service dues worth roughly Rs 15019.97 crore for V-SAT & ISP licenses that GNFC held during financial years 2005-06 to 2018-19, the company said in a BSE filing on Wednesday.
The notice comes in the wake of Supreme Court's October 24 judgment in favour of DoT which implied that telecom service providers, internet service providers (ISPs) and virtual network operators, among others, would now need to pay their dues basis a wider definition of adjusted gross revenue (AGR) including non-core items.
On its part, GNFC is currently examining the demand notice by DoT as well as the SC judgment and seeking legal advice on the same.
"Based on the legal advice, the company will decide the future course of actions in the subject matter," GNFC stated in its exchange filing on Wednesday.
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