Public sector company Oil India Ltd (OIL) on Wednesday said it has filed a clarificatory/modificatory petition in the Supreme Court to contest a staggering Rs 48,000 crore demand raised by the Department of Telecommunications (DoT) on a cumulative revenue of a mere Rs 1.47 crore it had earned on a National Long Distance telecom licence.
After the October 24 Supreme Court judgment that non-telecom revenues of telecom firms such as Bharti Airtel and Vodafone Idea should be included for considering payments of government dues, DoT asked OIL to pay Rs 48,000 crore based on the new definition of adjusted gross revenue (AGR). The amount includes the principal sum together with interest and penalty.
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