Industry

Bharti Airtel deposits additional ₹8,004 crore in AGR dues

Chunky outgo: The payments included those against liabilities on Airtel, Hexacom and Telenor India.  

Bharti Airtel on Saturday said it had made an additional payment of ₹8,004 crore towards its adjusted gross revenue-related dues to the Department of Telecom (DoT). The company had earlier in February deposited ₹10,000 crore with the DoT.

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In a regulatory filing, the company said it had carried out self-assessment from FY06-07 up to December 31, 2019, and interest thereon up to February 29, 2020.

Additional ₹3,004 crore

“Accordingly, the company has paid an additional amount of ₹3,004 crore towards the full and final amounts due over and above the ad-hoc amount of ₹10,000 crore paid on February 17, 2020 on behalf of the Bharti Group of companies,” it said. The payment included those for liabilities on Bharti Airtel, Bharti Hexacom and Telenor India.

It added that an additional amount of ₹5,000 crore had also been deposited with the DoT “as an ad-hoc payment (subject to subsequent refund / adjustment) to cover differences, if any, arising from the reconciliation exercise with the DoT.”

According to DoT estimates, Bharti Airtel’s liability stands at over ₹35,586 crore, including licence fee and spectrum usage charges with interest on the unpaid amount, penalty and interest on penalty.

The total payment made by the company to the DoT towards AGR dues now stands at ₹18,004 crore.

“Based on the aforesaid payment we have now complied with the AGR judgment and the directions in the order of the Supreme Court dated October 24, 2019,” the company said.


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Printable version | Oct 18, 2021 8:07:51 AM | https://www.thehindu.com/business/Industry/bharti-airtel-deposits-additional-8004-crore-in-agr-dues/article30952737.ece

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