SC warns against AGR dues’ reassessment

Reserves verdict on staggered payment

July 20, 2020 10:50 pm | Updated 10:50 pm IST - NEW DELHI

The Centre and telcos on Monday assured the Supreme Court that they would not conduct any re-assessment or re-calculation of the Adjusted Gross Revenue (AGR) dues.

A Bench led by Justice Arun Mishra said it would not tolerate “even for a second” any attempt to re-assess the AGR dues which now stands at ₹1.6 lakh crore. The Bench, however, reserved its verdict on the timeline for the staggered payments.

The Bench observed that 15 or 20 years was not a reasonable time period and the telcos must come forward with an appropriate time frame. The Centre had earlier urged the court that up to 20 years be given to the firms for the payments.

The telcos said they were in no position to give fresh bank guarantees for the payments. The October 2019 judgment originally wanted the telcos to make the repayment in three months. But the Centre intervened, saying it would dent the finances of the sector.

In the last hearing, the court had sought financial details of the firms to see whether they could provide any bank guarantee for ensuring the repayment of AGR dues without fail over the next 20 years.

Top News Today

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.