Replying to a notice by the Securities and Exchange Board of India (Sebi) over non-disclosure of Department of Telecommunications (DoT) assessment orders/demand notices, GAIL on May 6 said the demand was not legally tenable. GAIL said it had refuted the provisional assessment orders of DoT and sought its withdrawal. “Accordingly, the event(s) of receipt of provisional orders was not considered material to be disclosed,” it said. For GAIL, the DoT assessed an outstanding of Rs 1,83,076 crore towards annual licence fee in respect of IP-II Licence. You are also advised to disclose the reason of non-disclosure of the assessment orders/demand notices within the stipulated timeframe,” it wrote.

Source: Hindustan Times May 08, 2020 13:21 UTC