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Bharti Airtel Gains 2%; Telecom Tribunal Sets Aside Rs 650 Crore Fine

Bharti Airtel Gains 2%; Telecom Tribunal Sets Aside Rs 650 Crore Fine

Shares in Bharti Airtel gained over 2 per cent to a day high of Rs 361.65 on Tuesday. (Track Stocks)

The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) has set aside a penalty of Rs 650 crore imposed on the company by the Department of Telecommunication (DOT) in a roaming case.

The DoT had issued demand notice of Rs 650 crore to Airtel in July and August 2013.

The DoT had found Bharti Airtel routing national and international calls as local calls (SLD) under a scheme till 2005 despite being told to stop it in 2003, and that it caused loss to the government exchequer and state-run Bharat Sanchar Nigam Ltd (BSNL) across 13 service areas.

The telecom tribunal, TDSAT said there was no loss to state-run BSNL due to the services offered by Airtel and Vodafone, Press Trust of India said.

Shares in Bharti Airtel ended 0.21 per cent lower at Rs 353.40 apiece, underperforming the broader Nifty, which ended 0.18 per cent higher.

(With inputs from PTI)