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DoT withdraws Rs 2.3 lakh crore demand notices on GAIL, OIL

17 Jul 2020 Evaluate
The Department of Telecommunications (DoT) has withdrawn a demand of over Rs 2.3 lakh crore it had made on state-owned gas utility GAIL India and explorer Oil India (OIL) in past telecom dues. 

Following the October 24, 2019 order of the Supreme Court asking inclusion of non-telecom revenues for calculating statutory dues such as license fee and spectrum charges of telecom firms, the DoT had sought Rs 1.83 lakh crore from GAIL and another Rs 48,489 crore from OIL in past dues.

GAIL India is India’s principal Natural Gas Company with activities ranging from Gas Transmission and Marketing to Processing (for fractionating LPG, Propane, SBP Solvent and Pentane); transmission of Liquefied Petroleum Gas (LPG); production and marketing of Petrochemicals like HDPE and LLDPE and leasing bandwidth in Telecommunications.

Peers
Company Name CMP
GAIL (India) 168.70
Gujarat Energy 224.10
Indraprastha Gas 145.25
Mahanagar Gas 1047.25
Adani Total Gas 577.25
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