NOW Telecom Inc. of businessman Mel Velarde asked the Supreme Court to order the National Telecommunications Commission (NTC) to re-compute
The company disputed the NTC’s computation that it owed P2.6 billion in spectrum regulatory fees and associated charges.
“NOW Telecom continues to appeal to the Marcos administration to effect a level playing field, for NOW to compete head-on with China Telecom/DITO and Huawei-equipped Smart and Globe,” he said. “APIC is not part of capital stock,” Now Telecom said, adding that the Department of Justice and the NTC declared that any increase in the amount of paid-in capital stock resulting from debt to equity conversion should not be included in the computation of SRF.
“The crucial COA letter was conspicuously absent from NTC’s official documents, replaced by correspondence with the Office of the Solicitor General, casting doubts on the authenticity of the claim,” it said.
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