Supreme Court orders Indian telcos to pay US$13bil or face action

Vodafone Idea SIM card packets are arranged at a store in Mumbai, India. Telecom companies including Vodafone Idea, Reliance Jio and Bharti Airtel were told to US$13bil in past dues by March 17 or face punishment in a fresh blow to ailing mobile carriers in India. - Bloomberg

NEW DELHI: India's Supreme Court on Friday (Feb 15) ordered top telecom companies to pay US$13bil in unpaid spectrum and licensing fees by March 17 or face punishment in a fresh blow to ailing mobile carriers.

Shares in Vodafone Idea, which said it would be hardest hit by the ruling, fell 23 % on Mumbai's Sensex Index exchange after the court's announcement.