OPEN APP
Home >Industry >Telecom >Supreme Court to pronounce AGR verdict today at 11:30 am

Justice Arun Mishra-led Supreme Court bench will pronounce the much awaited Adjusted Gross Revenue dues' verdict relating to telecom companies on Tuesday at 11:30 am.

Justice Mishra, who became an apex court judge on July 7, 2014, is demitting office on Tuesday and superannuating on 2 September, is all set to pronounce key judgements in the case involving timelines for payment of AGR dues by telcos.

Telecom firms have to pay AGR related dues along with interest and penalty -- estimated to be around 1.6 lakh crore. The telcos have been keen on an extended timeline to pay up their statutory dues, in a staggered manner.

On July 20, the top court made it clear it will not hear "even for a second" the arguments on reassessment or re-calculation of the AGR related dues of telecom companies which run into about 1.6 lakh crore.

The apex court had observed that it was not a reasonable proposal that a period of 15 to 20 years be given to the telecom companies to pay AGR dues.

The top court, which on June 18 had asked the telecom companies including Bharti Airtel, Vodafone to file their books of accounts for the last ten year and give a reasonable time frame for paying the AGR dues.

The Centre had earlier urged the top court that up to 20 years be given to telecom companies for the payment of dues in a staggered manner.

On June 18, the top court was informed by the Centre that the DoT has decided to withdraw 96 per cent of the 4 lakh crore demand for AGR related dues raised against non-telecom PSUs like GAIL.

The apex court had in October 2019 delivered the verdict on the AGR issue for calculating government dues of telecom companies such as licence fee and spectrum usage charges.

After the top court had rejected pleas by Vodafone Idea, Bharti Airtel and Tata Teleservices seeking review of the judgement which widened the definition of AGR by including non-telecom revenues, the DoT had in March moved a plea seeking staggered payment over 20 years.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
My ReadsRedeem a Gift CardLogout