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Supreme Court To Pronounce Verdict On Staggered Payment Of AGR Dues

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New Delhi: The Supreme Court is all set to announce the much-awaited Adjusted Gross Revenue (AGR) dues’ verdict relating to telecom companies on Tuesday at 11:30 am.
The bench led by Justice Arun Mishra, who became an apex court judge in 2014, will pronounce the key judgements in the case including a timeline for payment of AGR dues by telcos.
The telecommunication companies will have to pay dues related to AGR along with interest and penalty, which is estimated to be around Rs 1.6 lakh crore.
The Centre on June 18, informed the SC that the Department of Telecommunication (DoT) has decided to withdraw 96 per cent of the Rs 4 lakh crore demand for AGR related dues raised against the non-telecom Public Sector Units (PSUs) like Gas Authority of India Ltd. (GAIL).
The court has asked the telecom companies including -Bharat Airtel and Vodafone – to file their books of accounts for the last ten years and to provide a reasonable time frame for paying the AGR dues.
The Centre had urged the apex court that up to 20 years to be provided to the telecom firms for payment of the dues in a staggered manner.
On July 20, the top court made it clear that it is not going to hear “even for a second” the arguments on the reassessment of the AGR related dues of telecom companies.
The Supreme Court had also observed that the proposal of giving telecom firms a period of 15 to 20 years to pay AGR dues is not reasonable.
The main AGR verdict is expected to end the court battle of more than 16 years between the DoT and operators.

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