Dish TV tumbles 10% on government’s demand notice of ₹4,164.05 crore
The amount is subject to verification and audit and outcome of various court cases pending before the Telecom Dispute Settlement Appellate Tribunal (TDSAT), high court of Jammu and Kashmir and the Supreme Court
MUMBAI: Shares of Dish TV India slumped 9.9% after the company said it has received a notice from the government for payment of ₹4,164.05 crore for licence fee.
At 1145 am, the Dish TV stock was at ₹13.93 apiece, down 6% from its previous close, while the benchmark Sensex was up 0.5% at 47,218.41.
In a filing to the exchanges on Friday, the company said, “The Ministry of Information and Broadcasting vide its communication dated 24 December has intimated the company that basis the accounts of the company and payment made towards license fee from the period from the date of issuance of DTH License till Financial Year 2018-19, an amount of ₹4,164.05 crore is payable and has directed the company to remit the said within a period of 15 days. According the communication dated 24 December 2020, the said amount includes the License Fee payable and accrued interest thereon.”