Industry

SC refuses to accept Vodafone’s proposal to pay ₹2,500 crore by today

File photo used fore representational purpose.

File photo used fore representational purpose.   | Photo Credit: Reuters

Vodafone also sought the bank guarantee deposited with the government should not be encashed

The Supreme Court on Monday refused to accept telecom firm Vodafone’s proposal to pay ₹2,500 crore by Monday and ₹1,000 crore by Friday against adjusted gross revenue (AGR) dues and that no coercive action be taken against it.

Also read | Airtel pays ₹10,000 crore to govt towards AGR dues

A Bench headed by Justice Arun Mishra declined to accept the proposal given by senior advocate Mukul Rohatgi, appearing for Vodafone, after he mentioned the matter.

Also read | SC hauls up telcos for not paying AGR dues

Rohatgi said they are willing to pay ₹2,500 crore on Monday and another ₹1,000 crore by Friday but no coercive action be taken against the company.

He said the bank guarantee deposited with the government by Vodafone should also not be encashed.

Explained | Vodafone and Airtel’s historic losses

Why you should pay for quality journalism - Click to know more

Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Apr 10, 2020 12:27:05 PM | https://www.thehindu.com/business/Industry/sc-refuses-to-accept-vodafones-proposal-to-pay-2500-crore-by-today/article30840747.ece

Next Story