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The Company is the principal provider of fixed-line and other basic telecommunications services in Delhi and Mumbai. It also provides internet and cellular services in both Delhi and Mumbai.
"We have received a demand from the state government of Maharashtra, of which Mumbai is a part, for payment of Rs.1.9 billion in sales tax for fiscal 1989-2000 on certain telecommunications revenues, mainly telephone rental charges." - 20-F filing, Oct 20071.9 billion rupees is $44m - seems scary to me.Also, we're talking about a gov't owned company that is losing market share to Tata and other providers. I'm pretty sure Tata is not government owned, and given the bureaucratic bog that is India's civil system, I don't expect the kind of decisive action that this company needs taking place.
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