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Supreme Court Grants Telecom Firms 10 Years To Pay AGR Dues

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New Delhi: The Supreme Court on Tuesday, granted a period of 10 years to telecommunication firms to clear their Adjusted Gross Revenue (AGR) dues running into about Rs 1.6 lakh crore.
A bench headed by Justice Arun Mishra allowed the firms to deposit their amounts in instalment and granted time till 2031 to clear the dues.
The court asked the telecom companies to pay 10 per cent of their dues by the end of the current financial year and has granted time till March 31, 2021 for first instalments due to the COVID-19 pandemic.
The apex court said that the demand of the Department of Telecommunication (DoT) and its verdict on AGR dues are final. The court also asked the Managing Directors (MDs) and Chief Executive Officers (CEOs) of the telcos to give an undertaking within four weeks for the payment of dues.
Also read: Supreme Court To Pronounce Verdict On Staggered Payment Of AGR Dues
If any telecom company fails to pay its instalments of AGR related dues will incur penality, interest and contempt of court, the top court added.
The bench further said that issue of sale of the spectrum by telecom companies facing insolvency proceedings will be decided by the National Company Law Tribunal (NCLT).
On February 14, the top court had directed the telcos to pay the AGR-related dues to the government by March 17. Thereafter, the firms had partly or fully paid their self assessed AGR liabilities to the government.
 
 

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