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DoT slaps Rs 48,000 crore demand notice on Oil India

21 Jan 2020 Evaluate

The Department of Telecommunications (DoT) has asked Oil India to pay Rs 48,000 crore in principal dues together with interest and penalty for using optic fibre network for internal communication. The dues sought are double the net worth of Oil India.

The company has received a demand notice for paying payments by January 23 and the company plans to challenge it in Telecom Disputes Settlement and Appellate Tribunal (TDSAT).

Oil India, a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.

Peers
Company Name CMP
ONGC 221.10
Oil India 442.65
Jindal Drilling&Inds 572.80
Deep Industries 746.50
Asian Energy Service 450.15
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