Lawstreet Journal

Supreme Court Strikes Down Demand of Rs 4 Lakh Crores from PSUs, Seeks Payment Pledge from Telcos: AGR Case

Lawstreet Journal 12 Jun 2020 11:13pm

Image courtesy: Lawstreet Journal Judiciary Supreme Court Strikes Down Demand of Rs 4 Lakh Crores from PSUs, Seeks Payment Pledge from Telcos: AGR Case

Marking an important day for the telecom sector, the on Thursday, 11th June 2020 took up for hearing the adjusted gross revenue (AGR) case. The Supreme Court bench led by Justice Arun Mishra considered the issue of allowing telecom firms to pay Rs 1.43 lakh crore worth AGR dues in a staggered fashion over 20 years. 

The Department of Telecom (DoT) before the commencement of the ongoing pandemic had moved the Supreme Court proposing staggered payment over 20 years for telecom firms to discharge their AGR dues. 

Earlier on 18th March 2020, the Supreme Court had come down heavily on the DoT for allowing telcos the facility of self-assessing their dues payable and had also called the DoT fraudulent and contemptuous of the court since the DoT had allowed telecom firms to rework amount payable in contravention to the court’s earlier order.

The court had also agreed to consider the issue of staggered payment over 20 years as mentioned by the DoT. Since the lockdown, there were no scheduled hearings which indeed limited the proceedings in the Supreme Court. 

Meanwhile, Vodafone Idea has paid Rs 6,854 crore of its dues whereas DoT’s firm demand stands at Rs 58,254 crore. The company’s self-assessment pegged its dues at Rs 21,533 crore. It has also been notified that Bharti Airtel has paid Rs 18,004 crore so far against the DoT’s demands of Rs 43,980 crore and the company’s dues are estimated to be around Rs 13,004 crore. 

The Supreme Court on Thursday adjourned the hearing in AGR case… Continue Reading...

Tagged: AGR Case  
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