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September 01, 2020 / 09:01 PM IST

AGR Case Highlights | SC gives telcos 10 years to pay dues; orders 10% upfront payment

AGR Case Highlights: A Supreme Court bench led by Justice Arun Mishra delivered the judgement on the repayment of adjusted gross revenue (AGR) dues by telecom companies.

The Supreme Court delivered its verdict in the matter pertaining to the repayment of adjusted gross revenue (AGR) dues by telecom companies on September 1. The bench of Justices Arun Mishra, S Abdul Nazeer and MR Shah allowed a 10-year timeline for payment of AGR dues by telecom companies, will begin from April 1, 2021. The companies are required to make an upfront payment of 10 percent of the dues. The date fixed for annual instalment of AGR dues by telecom companies is February 7, the SC said.

The SC clarified that there will be no revaluation of the dues.

The SC had in October 2019 upheld the expanded definition of AGR as given by the DoT, which placed a demand of over Rs 1 lakh crore on telecom companies.
  • September 01, 2020 / 03:15 PM IST

    Thank you for tuning into our live coverage of the Supreme Court’s AGR verdict. Stay tuned to Moneycontrol for more news, views and updates!

  • September 01, 2020 / 02:40 PM IST

    AGR Case LIVE Updates | Here's why Vodafone Idea fell, but Airtel rose; an expert take on the verdict

    Experts say this is good for telecom companies even though the period of 10 years is lesser than the expected of 15-20 years. They say the verdict could work in favour of Reliance Jio and Bharti Airtel, but might be a matter of survival for Vodafone Idea.

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  • September 01, 2020 / 02:19 PM IST

    Supreme Court’s AGR ruling | All’s well that ends well

    The news may not be good for Vodafone Idea, who along with Bharti Airtel had sought for 15 years to repay the amount. While Bharti Airtel may not be affected much by the judgement, Vodafone Idea with its stretched balance sheet may find it difficult to survive.

    As per Bharti Airtel’s assessment, it owes Rs 13,004 crore to DoT which it has already paid along with Rs 5,000 crore in ad-hoc payment. DoT, however, has assessed Bharti’s dues at Rs 43,780 crore.

    Read the full story story

  • September 01, 2020 / 01:45 PM IST

    AGR Case LIVE Updates | SC has given 10 years against our demand of 15 years, 10 years is not bad. Too early to talk about a review petition. One needs to understand the judgment: Senior advocate Mukul Rohatgi, counsel for Vodafone Idea, to CNBC-TV18

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  • September 01, 2020 / 01:31 PM IST

    AGR Case LIVE Updates | Here's what Airtel, Vodafone Idea, Tata will pay after Supreme Court order

    As per the DoT assessment, total amount was Rs 1.19 lakh crore — Vodafone Idea owed Rs 58,254 crore, Bharti Airtel Rs 43,989 crore and Tata Teleservices owed Rs 16,798 crore to the government.

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  • September 01, 2020 / 01:13 PM IST
  • September 01, 2020 / 12:27 PM IST

    AGR Case LIVE Updates | No doubt that there will be review and curative. Spectrum Usage Charge (SUC) does not constitute AGR and this is a jurisdictional question: Senior advocate Abhishek Manu Singhvi, counsel For Bharti Airtel, to CNBC-TV18.

  • September 01, 2020 / 12:15 PM IST

    AGR Case LIVE Updates | Bharti Airtel rallied 5.5 percent to Rs 542.40 and Reliance Communications gained 3.32 percent at Rs 2.49, whereas Vodafone Idea plunged 14.92 percent to Rs 8.67 on the BSE at 12:03 hours IST.

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  • September 01, 2020 / 12:07 PM IST

    AGR Case LIVE Updates | Telecom stocks trade mixed after AGR verdict. Bharti Airtel, RCom rally, while Vodafone Idea tanks 15 percent

  • September 01, 2020 / 12:04 PM IST

    AGR Case LIVE Updates | The date fixed for annual installment of AGR dues by telecom companies is February 7, the SC said. Existing bank guarantee given to be kept alive and Managing Director to give the undertaking to comply with the schedule.