Shares of telecom companies tank after Rs. 45000 crore scam allegations

July 8, 2016 8:57 pm
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A whopping Rs 45000 crore telecom scam allegations by the Congress party and refusal by the BJP thereafter caused the telecom companies faced huge losses in the share market on Friday. Congress spokesperson Randeep Surjewala on Thursday had alleged that the government is “surreptitiously taking steps to protect the interests of six leading telecom companies by helping them avoid the payment of charges rightfully owed to the government.” The telecom companies named by Mr Surjewala are Bharti Airtel, Vodafone, Reliance, Idea, Tata and Aircel.

According to the Mr Surjewala in its report submitted this year, the CAG found an alleged understatement/underreporting of income by the six companies of Rs.46,045.75 crore in the four years. The ruling BJP has refuted Surjewala’s charges and termed them as bogus.

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