Sunil Bharti Mittal and Kumar Mangalam Birla, billionaire chairmen of Bharti Airtel and Vodafone Idea, respectively, had separate meetings with the minister, a person aware of the development said on condition of anonymity. Bharti Airtel posted a loss of ₹1,035 crore while Vodafone Idea reported a loss of ₹6,438 crore in the December quarter. Emails sent to Vodafone Idea and Bharti Airtel on the details of the meeting went unanswered till press time. With market players expecting some relief, shares of Vodafone Idea gained as much as 48% during the day, before closing nearly 38% higher. Telecom operators now have to pay dues for the past 14 years, along with interest and fines.

Source: Mint February 19, 2020 19:18 UTC