Supreme Court to pronounce verdict on AGR dispute today
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| Supreme Court to pronounce verdict on AGR dispute today |
NEW DELHI : The Supreme Court will on Tuesday pronounce its verdict on a possible timeline for staggered payment of Adjusted Gross Revenue dues of about Rs 1.6 lakh crore by telecom companies and other related issues.
A Bench headed by Justice Arun Mishra will also decide if a telecom company facing proceedings under the Insolvency and Bankruptcy Code (IBC) can sell spectrum and how AGR dues can be recovered from them.
It will also give its finding on payment of dues, if any, on Jio and Airtel which have spectrum sharing pacts with RCom, Aircel and Videocon respectively.
The Centre had said there was a difference of opinion between the Department of Telecom (DOT) and the Ministry of Corporate Affairs on sale of the spectrum during insolvency proceedings.
The top court had on October 24, 2019, ruled that the statutory dues needed to be calculated by including non-telecom revenues in what is known as AGR of telcos. Later, it had rejected their review petitions, saying there was no "justifiable reason" to entertain their pleas.
Supreme Court to pronounce verdict on AGR dispute today
Supreme Court to pronounce verdict on AGR dispute today
Telcos wanted to make a staggered payment, contending that they faced financial constraints. The DoT had supported their plea and urged the court to allow staggered payment AGR dues by telcos in the next 20 years.
The Bench, which also included Justice BR Gavai and Justice Krishna Murari, had reserved the verdict on July 20 on the aspect of granting timeline to telcos for staggered payment of AGR- related dues.
However, the Bench had made it clear that it will not hear "even for a second" any arguments on reassessment or re-calculation of AGR.
During the hearing, it had asked telcos to furnish books of accounts for the last ten year. It had said 15-20 years sought by some telecos was not reasonable.
Last month, the DoT had said all liabilities, including AGR-related dues, should be cleared by telecos before spectrum trading.
Supreme Court to pronounce verdict on AGR dispute today
The DoT had said it can seek to recover dues from sellers and buyers of the spectrum, jointly or individually.
The DoT had said that no demand has been raised against Reliance Jio and Airtel for part dues of Reliance Communications (RCom) and Videocon respectively.
New Delhi, September 1
The Supreme Court will on Tuesday pronounce its verdict on a possible timeline for staggered payment of Adjusted Gross Revenue dues of about Rs 1.6 lakh crore by telecom companies and other related issues.
A Bench headed by Justice Arun Mishra will also decide if a telecom company facing proceedings under the Insolvency and Bankruptcy Code (IBC) can sell spectrum and how AGR dues can be recovered from them.
It will also give its finding on payment of dues, if any, on Jio and Airtel which have spectrum sharing pacts with RCom, Aircel and Videocon respectively.
The Centre had said there was a difference of opinion between the Department of Telecom (DOT) and the Ministry of Corporate Affairs on sale of the spectrum during insolvency proceedings.
The top court had on October 24, 2019, ruled that the statutory dues needed to be calculated by including non-telecom revenues in what is known as AGR of telcos. Later, it had rejected their review petitions, saying there was no "justifiable reason" to entertain their pleas.
Supreme Court to pronounce verdict on AGR dispute today
Telcos wanted to make a staggered payment, contending that they faced financial constraints. The DoT had supported their plea and urged the court to allow staggered payment AGR dues by telcos in the next 20 years.
The Bench, which also included Justice BR Gavai and Justice Krishna Murari, had reserved the verdict on July 20 on the aspect of granting timeline to telcos for staggered payment of AGR- related dues.
However, the Bench had made it clear that it will not hear "even for a second" any arguments on reassessment or re-calculation of AGR.
During the hearing, it had asked telcos to furnish books of accounts for the last ten year. It had said 15-20 years sought by some telecos was not reasonable.
Last month, the DoT had said all liabilities, including AGR-related dues, should be cleared by telecos before spectrum trading.
The DoT had said it can seek to recover dues from sellers and buyers of the spectrum, jointly or individually.
The DoT had said that no demand has been raised against Reliance Jio and Airtel for part dues of Reliance Communications (RCom) and Videocon respectively.
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