Media reports said that Bharti Airtel and Vodafone Idea approached the Supreme Court on Saturday to review a ruling which requires them to pay a large amount of outstanding government dues of $13bn.
The SC's ruling last month gave telecos three months to pay overdue levies and interest on penalties.
Bharti and Vodafone Idea have filed separate review petitions in the Supreme Court, Economic Times reported. However, the court is still to decide whether to admit the petitions.
The companies seek review of the penalties and interest on the dues, and enquire why some revenue components should be included in calculations of adjusted gross revenue (AGR), ET added.
Telecos pay the Department of Telecommunications (DoT) 3% to 5% of their AGR in spectrum usage charges and 8% as licence fees.
While companies argue that AGR should include revenue from only the core services, the government is of the opinion that it should include the entire revenue.
Stock View:
Bharti Airtel Ltd is currently trading at Rs440.70 up by Rs19.7 or 4.68% from its previous closing of Rs421 on the BSE.
Vodafone Idea Ltd is currently trading at Rs6.89 up by Rs0.33 or 5.03% from its previous closing of Rs6.56 on the BSE.
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