The Department of Telecommunications (DoT) has imposed a penalty of Rs 12.63 billion on Vodafone India for under-reporting revenues during financial years 2008-09 and 2010-11.
DoT has issued a demand notice to the company in this regard and has asked it to pay the penalty amount within 15 days. Reportedly, DoT has imposed the penalty on the company after having uncovered procedural lapses and anomalies in the company’s reported revenues from its India operations, forex gains, taxation and interest during the period under consideration.
