On March 21, 2024, Bharti Airtel informed in the exchange filings that the Department of Telecom has imposed a penalty of about ₹4 lakh on the company for violating subscriber verification norms in Delhi and Bihar circles.
According to a stock exchange filing by Bharti Airtel, the Department of Telecommunications, Delhi Circle, has issued a notice imposing a penalty of ₹2.55 lakh for alleged violation of subscriber verification norms. In another filing, they stated that the Department of Telecommunications, Bihar Circle, issued a notice imposing a penalty of ₹1.46 lakh stating the same reason.
As per the statement issued by the telecom provider, the Department of Telecommunications,
Delhi LSA (DoT) sent a notice imposing a penalty of ₹2,55,000 for an alleged violation of subscriber verification norms. Regarding the details of violations, the company added, “Alleged violation of terms and conditions with respect to subscriber verification norms under the License Agreement, according to Sample CAF Audit conducted by DoT for January 2023.”
In a separate filing about the fine levied by the Department of Telecommunications, Bihar LSA (DoT), Bharti Airtel stated about the notice imposing a penalty of ₹1,46,000 for alleged violation of subscriber verification norms. Regarding the details of the violations, it read, “Alleged violation of terms and conditions with respect to subscriber verification norms under the License Agreement, according to Sample CAF Audit conducted by DoT for January 2024.”
However, the company stated in the exchange filing about the Department of Telecommunications, Bihar LSA’s notice that the company does not agree with the Notice and will take appropriate action(s) for rectification/reversal of the same.
On March 22, 2024, the share price of Bharti Airtel Limited opened at ₹1,226.95, touching the day’s high at ₹1,233.75, as of 11:20 AM on the NSE.
Bharti Airtel is one of the most prominent telecommunication services providers in the world. The company has a presence in various countries, including India, Sri Lanka, and more.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Mar 22, 2024, 12:05 PM IST
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