Telcos Ask Supreme Court For More Time to Pay AGR Dues
Bharti Airtel, Vodafone Idea and Tata Teleservices take filed a articulation awarding to the Supreme Court of India, seeking modification in its verdict in the Adjusted Gross Revenue (AGR) case that the court decided in favor of the government. In their petition, the three carriers have sought more time to pay the unpaid AGR dues that run into tens of thousands of crores.
In a printing statement on Monday, Shally Bhasin, a partner in Agarwal Police force Associates, which is representing Vodafone Idea in the matter, said that the case is probable to be heard on Tuesday. Equally things stand now, the companies are required to pay the outstanding amount to the telecom department by Th, Jan 23rd.
The movement comes a week afterwards the Supreme Court dismissed the review petitions filed by telcos to alter its before judgement, which, concluding year, set a three-calendar month deadline for telecom operators to pay the outstanding dues that at present stand up at more than Rs. 1 lakh crore (effectually $fifteen billion), including the original amounts, interests and penalties. Citing falling revenues and ascension losses, about of the companies have expressed their inability to pay the outstanding dues, with Vodafone even threatening to sell off its business in the land if it didn't get whatsoever relief from the government.
Co-ordinate to Mint, Bharti Airtel owes the government around Rs. 35,586 crore (around $5 billion), while Vodafone Idea is yet to pay its ante worth a whopping Rs. l,000 crore (around $7 billion). As for Tata Teleservices, which has already exited the wireless sector by selling its mobile services concern to Airtel, it has outstanding dues of Rs. fourteen,000 crore (around $2 billion).
Source: https://beebom.com/telcos-supreme-court-agr-dues/
Posted by: kimbutense.blogspot.com
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