financetom
Business
financetom
/
Business
/
AGR dues: Bharti Airtel offers to pay Rs 10,000 crore by February 20
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
AGR dues: Bharti Airtel offers to pay Rs 10,000 crore by February 20
Feb 15, 2020 3:58 AM

After the Department of Telecom ordered the telecom companies to pay AGR dues by midnight February 14, Bharti Airtel informed the DoT that it is ready to deposit Rs 10,000 crore by February 20 as part of the payment.

Share Market Live

NSE

The telecom department on Friday withdrew its earlier order granting a waiver to telcos from coercive action against non-payment of AGR dues after the Supreme Court lashed out at the DoT for non-compliance of its October 2019 directing all telcos to pay AGR dues by January 23.

Following the SC's observation, The DoT directed all telecom licensees to make immediate payment in compliance with the Supreme Court order of October 24 last year.

"We are confident that we will complete the self-assessment exercise shortly and make the balance payment before the next date of hearing fixed by the SC," Airtel said in a letter to DoT. The next hearing is on March 17.

"Nevertheless, in compliance with the judgement of the Supreme Court on Friday, we shall deposit a sum of Rs 10,000 crore by February 20 on behalf of Bharti group of companies -- Bharti Airtel, Bharti Hexacom and Telenor India."

As per the DoT calculation, Airtel has to pay Rs 35,500 crore, Vodafone Idea Rs 53,000 crore and Tata Teleservices a little over Rs 12,500 crore as AGR dues.

But the telcos can do self-assessment and bring discrepancies to DoT's notice if they find anything for scrutiny as directed by DOT in its earlier communication to the telcos.

Earlier in the day, a three-judge bench of Justice Arun Mishra, Justice S Abdul Nazeer and Justice M R Shah summoned the top executives of the telcos and the DoT to explain why the court should not initiate contempt proceedings against them and government officials.

The court has expressed anguish over the Central government’s order staying the payment of AGR dues despite the SC order. "Should we wind up the Supreme Court now? Is there any law left in the country?" Mishra said.

(With inputs from agencies)

First Published:Feb 15, 2020 12:58 PM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Copyright 2023-2026 - www.financetom.com All Rights Reserved