Court halts airwave surcharge demand on Idea Cellular

MUMBAI Thu Jan 24, 2013 5:52pm IST

Sun rises over the telecommunication towers in New Delhi December 22, 2007. REUTERS/B Mathur/Files

Sun rises over the telecommunication towers in New Delhi December 22, 2007.

Credit: Reuters/B Mathur/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - The Bombay High Court has asked the government to not take any coercive action against Idea Cellular Ltd (IDEA.NS) until March 1 on a demand to pay surcharges on airwaves, the mobile phone operator said on Thursday.

Idea, the country's No.3 mobile phone carrier by revenue, had appealed the order after the telecommunications ministry sent notices to carriers asking them to pay the surcharges.

The government is imposing the surcharges totalling more than $4 billion on long-established carriers including Bharti Airtel Ltd (BRTI.NS) and Vodafone Group Plc's (VOD.L) local unit, after an overhaul in the airwave sale process.

But carriers have challenged the move saying it violates the conditions of their licence agreements with the government.

(Reporting by Aradhana Aravindan; Editing by Gopakumar Warrier)

FILED UNDER:

Reuters Showcase

FMC-SEBI Merger

FMC-SEBI Merger

Regulatory shakeup could revive commodities markets   Full Article 

Market Eye

Market Eye

Sensex, Nifty end higher after bumpy budget-day trading  Full Article 

Tax Incentives

Tax Incentives

Budget woos foreign investors  Full Article 

Excise Duty

Excise Duty

Cigarette makers fall after budget hikes excise duty  Full Article 

Welcoming the Budget

Welcoming the Budget

India Inc cheers corporate tax cut, simpler rules  Full Article 

Gold Price

Gold Price

Gold prices to rise after budget keeps import duty high  Full Article 

Fuel Prices

Fuel Prices

IOC to raise diesel, petrol prices from Sunday  Full Article 

Moody's on Budget

Moody's on Budget

Budget "credit neutral" from a ratings perspective - Moody's   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage