• SENSEX
    NIFTY 50
Business

US firm Hughes fears Indian closure, bank disruptions over AGR dues

Updated : February 23, 2020 03:06 PM IST

The Supreme Court late last year ordered a number of telecom companies, including Hughes and larger firms like Vodafone, to pay billions of dollars owed to the government.
Hughes' India unit provides services to defence, education and banking sectors in the country and told India's telecom minister in a letter dated February 20 that it faces bankruptcy as it can't pay the Rs 6 billion ($84 million) it owes.
The closure of the company could disrupt connectivity at more than 70,000 banking locations and many critical satellite networks in the Indian navy, army and railways, Hughes' India president Partho Banerjee said in a letter.
US firm Hughes fears Indian closure, bank disruptions over AGR dues

You May Also Like

Live TV
Advertisement