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BSE, Mumbai-based Asia's oldest stock exchange, has challenged the Department of Telecommunication (DoT)'s notices for payment of VSAT network licence fees and royalty.
In response to DoT's notices, BSE said that demand notices were based on an incorrect interpretation of the existing guidelines.
During 2012-13, the exchange had received notices from DoT for payment of Rs 3.52 crore. The exchange has already paid an amount of Rs 2.35 crore.
"In respect of the balance of Rs 1.17 crore, the management has filed a reply (to DoT), after legal consultations, challenging the claim," the exchange said in a note with its FY13 financial results.
"No provision for the same is made in the accounts and has been considered as a contingent liability, the statement added.
