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The shares of telecom stocks have received a plunge as the Telecom Ministry is planning to issue a show-cause notice to five operators for reporting under performance and revenue. The operators who have become the subject of Ministries scrutiny include Tata, Vodafone, RCom, Bharti and Idea.

However, before the show-cause notice is issued, the operators would be called for a meeting by Telecom Minster Kapil Sibal. It has further been revealed that the government has raised questions over the authority of telecom tribunal TDSAT for showing interest in the request of the telecom operators, who have challenged the instructions of the government to stop 3G roaming agreement.

After conducting an audit review over the alleged companies’ financial activity from 2006 to 2008, it has come to light that Reliance Communications, Tata Teleservices and Tata Communication, Vodafone, Bharti Airtel and Idea Cellular has to pay Rs 550 crore, Rs 393 crore, Rs 245, Rs 292 crore and Rs 113 crore to the government respectively.

The audit review over the financial activities of the companies was called by Telecom regulator TRAI, in 2009. The Department of Telecom (DoT) was asked by the TRAI to conduct the review. DoT in the report highlighted that the five telecom companies misrepresented their revenues of 2006-2008.

Looking at the gravity of the issue, Kapil Sibal said to the Ministry, “Since most of the issues in dispute seem to be common to all major telecom service providers… I would like to have detailed presentation/discussion on all important issues”.

The operators have been given a time till January 9, 2012 to submit legal papers. After that an official enquiry over the case would be called for. It is yet to be know as to when Sibal will be holding meeting with the operators

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