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SC Grants 10 Years Time To Telecom Companies To Pay Dues To DoT

The Supreme Court cautioned the telecom firms and said that failure to pay installments of AGR-related dues would incur penalty, interest and contempt of court.

SC Grants 10 Years Time To Telecom Companies To Pay Dues To DoT
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SC Grants 10 Years Time To Telecom Companies To Pay Dues To DoT
outlookindia.com
2020-09-01T12:52:31+05:30

The Supreme Court on Tuesday granted 10-year time to telecom firms like Vodafone Idea, Bharti Airtel and Tata Teleservices for paying the Adjusted Gross Revenue (AGR)-related dues to the Department of Telecommunications (DoT) with certain conditions.

The apex court said telecos should pay 10 per cent of the AGR-related dues by March 31, 2021.

A bench headed by Justice Arun Mishra held that the demand made by the DoT and the verdict delivered by the top court in the matter are final.

Also Read: Telecom Industry Lost 82 Lakh Subscribers During Lockdown In April

The bench asked the Managing Director (MDs) or Chief Executive Officer (CEOs) of telecos concerned to furnish undertaking or personal guarantee within four weeks for payment of dues.

It cautioned the telecom firms and said that failure to pay installments of AGR-related dues would incur penalty, interest and contempt of court.

The top court said that issue of sale of spectrum by telecos facing insolvency proceedings shall be decided by the National Company Law Tribunal (NCLT).

The bench delivered its verdict on the issues, including the timeline for staggered payment of AGR-related dues amounting to about Rs 1.6 lakh crore. 

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