India Post News Paper

Blog

 Breaking News

Telcos get 10 years to clear AGR dues, 1st installment of 10% by March 2021

Telcos get 10 years to clear AGR dues, 1st installment of 10% by March 2021
September 01
16:24 2020

NEW DELHI: The Supreme Court on Tuesday granted 10 years to telecom companies to clear their respective adjusted gross revenue (AGR) dues and also directed them to deposit the first instalment of 10 per cent by March 31, 2021.

A bench headed by Justice Arun Mishra said the instalments should be paid by February 7 of every succeeding year. The apex court also warned the telecom companies that if there was any default, then it would accrue interest, and also non-payment would invite contempt of court proceedings against the firms.

It also said it agreed with senior advocate Harish Salve that the National Company Law Tribunal (NCLT) should first decide whether spectrum can be a subject matter of resolution proceedings.

During the hearing, the Centre said it is fine with the 20 years arrangement to recover AGR dues, as senior advocate Mukul Rohtagi appearing for Vodafone Idea accepted the demand of Rs 58,000 crore AGR dues, and insisted that the only way to pay and honour the top court judgment is to allow Vodafone a 20-year payment period. Later, however, he agreed to a 15-year time period.

Even, Airtel sought 15 years to clear the AGR dues. The Centre had informed the top court that the Cabinet has considered the issue and decided on a 20-year period, and it has provided this relief due to the cascading effect on the economy.

Comments

comments

About Author

India Post Newspaper

India Post Newspaper

Related Articles

E-paper Latest Edition – October 15th, 2021

ADVERTISEMENT – ZEE5

ZEE 5 Subscription

ADVERTISEMENT – NORTHLAKE NATOMAS

 NORTHLAKE NATOMAS

50 SPIRITUAL APPETIZERS – VINOD DHAWAN

50-ad-Indiapost

It’s a lovely book. It feels energetically clear and light. It’s easy to read, dip in and out and most importantly it offers information without fluff! Blessings on this project.

Jac O’Keeffe
Spirituality teacher based in USA.

*Available on Amazon, Flipkart & other online stores*

ADVERTISEMENT – JOBSORA- FIND A JOB NOW!

Jobsora Jobs

POPULAR CATEGORIES

Download Media Kit

India Post Media Kit