The News Scroll 29 February 2020  Last Updated at 12:05 pm | Source: PTI

AGR dues: Bharti Airtel pays additional Rs 8,004 cr, claims compliance with SC judgement

AGR dues: Bharti Airtel pays additional Rs 8,004 cr, claims compliance with SC judgement
outlookindia.com
1970-01-01T05:30:00+0530
New Delhi, Feb 29 (PTI) Telecom operator Bharti Airtel on Saturday said that it has made additional payment of Rs 8,004 crore towards adjusted gross revenue dues to the Department of Telecom (DoT).

The payment of Rs 8,004 crore is in addition to Rs 10,000 crore the company paid on February 17, 2020 in compliance to the Supreme Court judgement, it said in a regulatory filing.

The company said it calculated the liabilities on self assessment basis till December 31, 2019 and the payment includes interest up to February 29, 2020.

The company has carried out self assessment from FY 2006-07 up to December 31, 2019 and interest thereon up to February 29, 2020 in line with the Adjusted Gross Revenue (AGR) judgement, Bharti Airtel said.

"Accordingly the company paid an additional amount of Rs 3,004 crore towards the full and final amounts due over and above ad-hoc amount of Rs 10,000 crore paid on February 17, 2020 on behalf of Bharti Group of companies," the filing said.

The payment included liabilities on Bharti Airtel, Bharti Hexacom and Telenor India.

"We have also deposited an additional amount of Rs 5,000 crore, as an ad-hoc payment (subject to the subsequent refund/adjustment to cover differences, if any arising from the reconciliation exercise with the DoT," Airtel said.

According to DoT estimates, Airtel owed nearly Rs 35,586 crore, including licence fee, spectrum usage charges with interest on unpaid amount, penalty and interest on penalty till July 2019.

"Based on the aforesaid payment we have now complied with AGR judgement and the directions in the order of the Hon''ble Supreme Court dated October 24, 2019," the company said. PTI PRS DRR DRR


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
Next Story : Domhnall Gleeson, his brother Brian to star in comedy show ''Frank of Ireland''
Download the Outlook ​Magazines App. Six magazines, wherever you go! Play Store and App Store