Bharti Airtel removed from DGFT’s ‘denied entry list’

Newsmantra — Fri, 31 Jan 2020 06:27:56 +0000

Bharti Airtel on Friday said its name has been removed from the Directorate General of Foreign Trade’s (DGFT) ‘denied entry list’, and the operator is working with authorities to complete pending formalities.

“We wish to clarify that the company has highlighted the relevant details and documents submitted to the DGFT and accordingly the name of the company has now been removed from the Denied Entry List,” the company said in a statement.

“We are actively engaged with the authorities to complete the formalities and provide additional documents for closure of the remaining cases,” Bharti Airtel said.

The telecom company, had on Wednesday, clarified to the stock exchanges that the company is closely working with DGFT to get its name removed from the list, which bans an entity from importing or exporting its goods and services.

Companies placed under the ‘denied entry list’ lose their import licence. The ban does not limit the company’s ability to import and export in the future, Airtel had said on Wednesday.

At 9:46 am, shares of Bharti Airtel were at ₹490.75, up 0.3%, on the BSE, while the benchmark Sensex was marginally higher at 40,962.49 points.

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Bharti Airtel removed from DGFT’s ‘denied entry list’