There’ll be no recalculation of telcos’ AGR dues, says SC

Consultant picture

NEW DELHI: India’s large telecom gamers, besides Jio, pleaded earlier than the Supreme Court docket on Monday for a staggered fee of adjusted gross income (AGR) dues over 15 years after the apex courtroom scotched their delicate makes an attempt for recalculation of the Rs 1.6 lakh crore claimed by the division of telecommunications (DoT).
Irked by contemporary makes an attempt by telecom service suppliers to recalculate the AGR dues and the sympathetic stand taken by DoT, a bench of Justices Arun Mishra, S Abdul Nazeer and M R Shah mentioned the “thought shouldn’t cross the minds of defaulters even for a second”. “There can be no recalculation of the dues and no matter DoT had instructed the courtroom earlier must be paid,” the bench mentioned.
Worst hit Vodafone Thought, by senior advocate Mukul Rohatgi, mentioned the corporate had no funds to pay proper now however promised that it might make good the funds in 15 years. Bharti Airtel’s counsel, senior advocate A M Singhvi, too proposed a 15-year timeline for fee of AGR dues in instalments. Solicitor normal Tushar Mehta mentioned a 15-20-year timeline for fee would bode effectively for the economic system. The bench reserved its verdict on the timeline concern.
Mehta mentioned many telecom firms have been underneath insolvency. The bench questioned whether or not it was a ploy to flee fee of AGR dues and requested DoT to position on file all paperwork referring to funds of the businesses underneath insolvency.
It posted additional listening to for August 10 on points referring to telecom firms underneath insolvency.
In keeping with knowledge given by DoT, telecom gamers reminiscent of Bharti Group, Vodafone Thought and Tata Group owed main chunk of AGR dues (see graphic). Quadrant Televentures has an impressive quantity of Rs 189 crore after it paid Rs 69 lakh.
Jio has no dues, the DoT knowledge confirmed. Telecom scam-tainted firms Loop, S-Tel and Etisalat collectively owed Rs 604 crore, whereas BSNL has an impressive quantity of Rs 5,835 crore and MTNL Rs 4,352 crore.
Telecom service suppliers underneath insolvency proceedings that owe AGR dues to DoT are Aircel, Reliance Communications/Reliance Telecom and Videocon Telecom. DoT claimed that it had financial institution ensures value Rs 448 crore from Aircel and Rs 1,591 crore from Reliance Communications, however was not capable of encash them due to insolvency proceedings. Nonetheless, it assured the courtroom that there can be no recalculation of AGR dues and no matter was talked about within the chart submitted to the courtroom can be recovered.

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