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DoT asks Bharti Airtel, Vodafone Idea to make partial upfront payment of AGR dues: Report

On June 11, the SC had said telecom companies cannot make staggered payments of AGR dues over 20 years without providing any security.

July 20, 2020 / 02:53 PM IST
 
 
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The Department of Telecommunications (DoT) has asked service providers such as Vodafone Idea and Bharti Airtel to make some upfront payment towards their pending adjusted gross revenue (AGR) dues before being allowed to stagger the remaining amount, The Economic Times has reported.

"Both the telcos have informed the DoT that they have paid what they could and are not in a position to add to the upfront payments," a government official told the publication. The companies have also highlighted issues with the DoT's calculations of their AGR dues.

Moneycontrol could not independently verify the report.

The Supreme Court (SC) is to hear the AGR dues case on July 20. The court on June 18 asked telecom operators to give a roadmap for payment, timeline and security if staggered payments were to be considered.

Also Read: 'Adverse AGR judgment can hit SBI, HDFC Bank, Axis Bank, Yes Bank

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According to the DoT's estimate, Vodafone Idea owes Rs 58,254 crore in AGR-related dues and Bharti Airtel Rs 43,980 crore.

Vodafone Idea has paid Rs 6,354 crore and Bharti Airtel has paid Rs 18,004 till now crore.

On June 11, the SC, reacting to a suggestion, said telecom companies wouldn't be allowed to stagger payments over 20 years without providing any security.

"Although the telcos have also told the top court that they can't pay more, DoT won't take any chances and will need to show they are doing their best to recover dues," an official told The Economic Times.
Moneycontrol News
first published: Jul 15, 2020 10:43 am

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