The auditor of Grameenphone Ltd. has issued an "Emphasis of Matter" in its report on the telecom operator's interim financial statements for the six months ended June 30, 2026, drawing attention to an unresolved BDT 125.80 billion demand notice from the Bangladesh Telecommunication Regulatory Commission (BTRC), disclosure documents filed with the Dhaka Stock Exchange (DSE) showed on Monday.
The demand, issued on April 2, 2019, followed an information system audit by BTRC covering the period from Grameenphone's inception in 1997 to December 31, 2014. It includes BDT 40.86 billion attributable to the National Board of Revenue (NBR).
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According to the disclosure, Grameenphone has challenged the demand through a Title Suit in the District Court. The case was scheduled for mediation on April 26, 2026, but the hearing was adjourned, with the next date now set for October 5, 2026.
In a related appeal, the High Court Division (HCD) had earlier granted an injunction against the demand, which the Appellate Division (AD) subsequently upheld, both in a Civil Petition and a Review Petition, on condition that Grameenphone deposit BDT 20 billion.
The company made that deposit in 2020, and the amount continues to be carried under "Other non-current assets" in its books, as stated in the interim financial statements.
Hearings on the pending Review Petition and Appeal have yet to take place before the AD and HCD, respectively, and will proceed as per court scheduling, the disclosure noted.
The BTRC audit demand separately covers disputes over VAT deductibility on payments to the regulator and the spectrum assignment fee. Grameenphone said it had already settled the principal amount tied to that portion, BDT 3.92 billion on June 14, 2023, following a separate AD ruling.
Citing the ongoing litigation, Grameenphone's management said significant uncertainty remains over the validity of the audit demand and its eventual outcome, and that no provision has been made in the interim accounts for the demand or any accrued interest, apart from what has been disclosed in Note 45(a) to the audited financial statements for the year ended December 31, 2025.