Airtel blacklisted, know what’s the complete matter

by Jeremy Spirogis
India's cleanest city for 4th consecutive time

New Delhi. Airtel is an enormous information for purchasers. The Directorate General of Foreign Trade or DGFT has blacklisted Sunil Mittal's Bharti Airtel. Also, DGFT has additionally put Airtel in Denied Entities List. The DGFT has taken this step after Airtel didn’t fulfill its export obligations below the Export Promotion Capital Goods (EPCG) scheme launched by the federal government. According to the CNBC-TV18 report, in accordance with DGFT, Denied Entities List is maintained attributable to non-fulfillment of export obligations below completely different schemes. The inclusion of an organization on this checklist cancels that firm's import license. <! –

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Airtel denied

However, CNBC-TV18 report states that Bharti Airtel mentioned that it has not taken any such license since April 2018. According to Airtel, the corporate has not taken this license attributable to lack of any business exercise. The firm has already utilized for the closure of its earlier licenses, that are to be canceled. Rather Airtel is awaiting response from the involved authorities for approval to cancel these licenses.

Bad situation of share

Due to this information, Airtel's inventory fell considerably today. The firm's inventory closed at Rs 490.90, down by Rs 23.40 or 4.55 per cent. While Airtel's inventory touched a 52-week excessive of Rs 515.30 on 22 January itself. After Airtel acquired 100 per cent FDI approval from the Department of Telecommunications, its inventory noticed a big rise. After this approval, Airtel is on the way in which to develop into a overseas firm.

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