The Supreme Court today (Friday, 23 July) dismissed the petition of telecom companies for recalculation of Adjusted Gross Revenue (AGR) dues. In the petition, Bharti Airtel, Vodafone Idea and Tata Teleservices had alleged a mistake in the calculation of AGR dues by the Department of Telecommunications (DoT). The matter was heard by a bench of Justice L Nageswara Rao and Justice Hrishikesh Roy.
According to the Department of Telecommunications (DoT) calculations, Vodafone-Idea owes a total of Rs 58,254 crore and Bharti Airtel owes Rs 43,980 crore dues. These companies have been given time till March 31, 2031, to pay the AGR. Explain that after the court's decision, Vodafone Idea's stock fell 8 percent to Rs 7.87.
The Supreme Court last year had given 10 years to telecom service providers to make payment of dues related to AGR. In their petition, the telecom companies have raised the issue of alleged errors in the calculation of the AGR dues figures sought by the Department of Telecom (DoT).
However, the Solicitor General has informed the Supreme Court that the DoT has not shared any direction to allow rectification of errors and the Supreme Court has also held on three previous occasions that the AGR demand cannot be recalculated.
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