SC Gives Telecom Firms 10 Years to Clear AGR Dues of Rs 1.6 Lakh Crore; 10% to be Paid by March 31
4 years, 3 months ago

SC Gives Telecom Firms 10 Years to Clear AGR Dues of Rs 1.6 Lakh Crore; 10% to be Paid by March 31

News 18  

The Supreme Court on Tuesday gave telecom firms 10 years to clear Adjusted Gross Revenue-related dues, which run into about Rs 1.6 lakh crore. Each company will decide if they want to file a review petition.” The department of telecommunications had in March appealed to the top court seeking 20 years for payment of AGR dues, including spectrum usage charge, license fee, interest, penalty and interest on penalty. The top court had in October 2019 delivered the verdict on the AGR issue for calculating government dues of telecom companies, such as Vodafone Idea, Bharti Airtel and Tata Teleservices, as licence fee and spectrum usage charges. Vodafone Idea and rival Bharti Airtel had sought 15 years for payment of dues, while Tata Teleservices Ltd requested a window of 7-10 years.

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History of this topic

Airtel pays off ₹3,626 crore spectrum dues to Telecom Dept. for purchases in 2016
5 days, 2 hours ago

Airtel pays off ₹3,626 crore spectrum dues to Telecom Dept. for purchases in 2016

Live Mint  

Telecom major Bharti Airtel Ltd. announced on Thursday, December 19, that the company has paid off ₹3,626 crore in dues, which it owed to the Department of Telecom for the spectrums it acquired in 2016, according to an official statement. In the exchange filing, Bharti Airtel said that “it has prepaid ₹3,626 crores to the Department of Telecom clearing all …

Vodafone Rallies 10% As Company Signs $3.6 bn Deal With Nokia, Ericsson; Key Details
3 months ago

Vodafone Rallies 10% As Company Signs $3.6 bn Deal With Nokia, Ericsson; Key Details

News 18  

Vodafone Idea Share Price Today: Vodafone Idea shares were trading 10 per cent higher on Monday after the company scheduled an analyst or investor update call later today, which will take place from 2.30 PM to 3 PM IST and is expected to provide updates on what the telecom operator is up to following the Supreme Court AGR setback. Additionally, …

Big Setback To Airtel, Vodafone As Supreme Court Rejects Curative Plea Against AGR Dues
3 months ago

Big Setback To Airtel, Vodafone As Supreme Court Rejects Curative Plea Against AGR Dues

ABP News  

The Supreme Court on Wednesday rejected a petition filed by the telecom companies including Vodafone and Airtel seeking a re-computation of adjusted gross revenues, amid a long-standing dispute over payment of dues to the government. In 2021, the Supreme Court dismissed a plea seeking corrections in the AGR dues demand by telecom companies. In 2023, telecos filed a curative petitions …

CJI agrees to consider listing plea by Vodafone-Idea to correct computational errors in Adjusted Gross Revenue dues
5 months, 1 week ago

CJI agrees to consider listing plea by Vodafone-Idea to correct computational errors in Adjusted Gross Revenue dues

The Hindu  

Chief Justice of India D.Y. Chandrachud on July 15 agreed to consider listing a plea by Vodafone-Idea to correct alleged errors in the computation of Adjusted Gross Revenue dues. A curative petition against the dismissal of earlier pleas seeking correction of alleged errors in AGR-related dues is yet to be listed before a Bench, the TSP said. In July 2021, …

Vodafone Idea shares jump 7.5% on global broking firm UBS upgrade
6 months, 4 weeks ago

Vodafone Idea shares jump 7.5% on global broking firm UBS upgrade

Business Standard  

A 'likely' relief on the government dues front for Vodafone Idea and expectations of telecom tariff hikes could drive the share prices up by 70-80 per cent, global broking firm UBS said in a report. "Assuming AGR dues are completely waived off, our DCF value could increase to Rs 24 per share, versus Rs 12 when there is no waiver. …

DoT rejects Voda Idea license fee review plea
1 year, 2 months ago

DoT rejects Voda Idea license fee review plea

Live Mint  

New Delhi: The department of telecommunications has rejected Vodafone Idea’s plea to review licence fee demands of ₹3,273 crore for fiscal 2016 and 2017, India’s No. The Aditya Birla Group-promoted company said it was deciding on the next course of action since it had filed a plea with the Supreme Court for the DoT to correct some “errors” in the …

Govt to become largest shareholder in Vi post conversion of AGR dues to equities
1 year, 10 months ago

Govt to become largest shareholder in Vi post conversion of AGR dues to equities

Live Mint  

The government has passed an order to convert adjusted gross revenue dues of telecom services provider, Vodafone Idea into equities for nearly ₹16,133.2 crore. Joshi added, "Classifying the proposed stake by the government as public shareholding, the regulator in its then order, had stated that the acquisition by the government is proposed with the sole intent of saving the larger …

Vodafone Idea, ATC Agree to Extend Rs 1,600-Crore Debentures Date Till February 28
2 years ago

Vodafone Idea, ATC Agree to Extend Rs 1,600-Crore Debentures Date Till February 28

News 18  

Debt-ridden Vodafone Idea and its vendor ATC Telecom Infrastructure have agreed to extend the last date for a subscription of Rs 1,600 crore optionally convertible debentures till February 28, the telecom operator said in a regulatory filing. The conditions for approval include the nod of VIL shareholders and conversion of interest liability on the company arising from the deferment of …

Airtel's Sunil Mittal hails Modi govt's efficiency in 5G spectrum allocation
2 years, 4 months ago

Airtel's Sunil Mittal hails Modi govt's efficiency in 5G spectrum allocation

Op India  

On Thursday, the Bharti Airtel founder and Chairman Sunil Bharti Mittal lauded the PM Modi led-government for ease of doing business after the company received an allocation letter for the designated 5G spectrum within hours of payment of the dues. Reports mention that the Department of Telecommunications has received an upfront payment of around Rs 17,876 crore from companies including …

Vodafone Idea defers Rs 8,837 cr AGR dues payment, gets option to pay interest via equity
2 years, 6 months ago

Vodafone Idea defers Rs 8,837 cr AGR dues payment, gets option to pay interest via equity

India TV News  

Highlights Debt-ridden telecom operator has decided to defer payment by a period of four years Amount of AGR related dues as stated in the said DoT Letter is Rs 8,837 crores Government calculates its share of revenue from telecom operators based on their AGR Debt-ridden telecom operator Vodafone Idea has decided to defer payment of additional adjusted gross revenues of …

Vodafone Idea surges by 20% after government floats relief package
3 years, 3 months ago

Vodafone Idea surges by 20% after government floats relief package

The Hindu  

Shares of Vodafone Idea Limited surged by nearly 20% on Thursday while banks with exposure to the embattled telecom firm also climbed, a day after India’s federal cabinet approved a relief package for the cash-strapped sector. The relief package includes a four-year moratorium on airwaves payments due to the government raising the tenure of airwaves held by firms to 30 …

AGR Case : Supreme Court Asks Bharti Airtel To Move Alternate Forum Challenging DoT Demand For Videocon Dues
3 years, 4 months ago

AGR Case : Supreme Court Asks Bharti Airtel To Move Alternate Forum Challenging DoT Demand For Videocon Dues

Live Law  

The Supreme Court on Tuesday granted liberty to Bharti Airtel to move the appropriate forum against the direction issued to it by the Department of Telecommunications to pay the AGR dues of Videcon Telecommunications Ltd.The Court also restrained the DoT from invoking the bank guarantees furnished by Airtel for three weeks.A bench comprising Justices L Nageswara. The Supreme Court on …

Telcos tried to recompute AGR dues under the guise of correcting ‘arithmetical errors’: SC
3 years, 5 months ago

Telcos tried to recompute AGR dues under the guise of correcting ‘arithmetical errors’: SC

The Hindu  

The Supreme Court said what major telecom service providers such as Vodafone, Airtel and Tata really wanted, under the guise of correcting “arithmetical errors”, was a recalculation of their adjusted gross revenues running into crores. These applications by the telecom majors to “correct” Math mistakes, which at “first blush” look “innocuous”, was a roundabout way to recompute their AGR debts …

Supreme Court dismisses telecom majors’ pleas to record grievances on ‘arithmetical errors’ in calculation
3 years, 5 months ago

Supreme Court dismisses telecom majors’ pleas to record grievances on ‘arithmetical errors’ in calculation

The Hindu  

The Supreme Court on July 23 dismissed applications filed by major telecom firms such as Voda-Idea and Airtel for a chance to place their grievances about “arithmetical errors” in their Adjusted Gross Revenue dues before the Department of Telecom. In a September 2020 judgment, the top court had ordered that the annual 10% instalments for payment of AGR dues would …

Supreme Court Dismisses Telecom Companies' Pleas To Recompute AGR Dues
3 years, 5 months ago

Supreme Court Dismisses Telecom Companies' Pleas To Recompute AGR Dues

Live Law  

The Supreme Court on Friday rejected the pleas of telecom companies seeking recomputation of the Adjusted Gross Revenue dues demanded by the Department of Telecommunications.A bench comprising Justices L Nageswara Rao, S Abdul Nazeer and MR Sha pronounced the order dismissing the applications filed by Vodafone Idea, Bharti Airtel and Tata Teleservices.The bench had observed. The Supreme Court on Friday …

Bharti Airtel Moves Supreme Court Seeking Modification Of AGR Dues
3 years, 11 months ago

Bharti Airtel Moves Supreme Court Seeking Modification Of AGR Dues

Live Law  

Bharti Airtel has moved an Application before the Supreme Court seeking for a limited clarification/modification of the Adjusted Gross Revenue dues owed to the Department of Telecommunications as well as a recall of previous orders which allowed the Respondent to appeal against judgement of TDSAT. 43,890 crores is the final amount due and payable by the Applicants.Further, it seeks for …

Dues payment over 10 years not enough to aid VIL; expect market gains for Airtel, Jio: Fitch
4 years, 3 months ago

Dues payment over 10 years not enough to aid VIL; expect market gains for Airtel, Jio: Fitch

India TV News  

The Supreme Court's decision to allow telcos to pay outstanding dues over 10 years will not be enough to help Vodafone Idea to stabilise its position, while Jio and Airtel are expected to strengthen their market shares through subscriber gains, Fitch Ratings has said. "We expect Jio and Bharti to increase their combined revenue market share to 75-80 per cent …

Amazon, Verizon May Invest Over $4 Billion In Vodafone Idea: Report
4 years, 3 months ago

Amazon, Verizon May Invest Over $4 Billion In Vodafone Idea: Report

News 18  

US wireless carrier Verizon Communications Inc and Amazon.com Inc may invest more than $4 billion for a stake in India’s Vodafone Idea Ltd, the Mint newspaper reported on Thursday, sending shares in the struggling Indian telecom firm up 10%. Vodafone Idea’s stake-sale talks had been paused pending the outcome of a court hearing in India, which created uncertainty and could …

Vodafone Idea Shares Plunge Nearly 10 Percent After SC Order
4 years, 3 months ago

Vodafone Idea Shares Plunge Nearly 10 Percent After SC Order

News 18  

Vodafone Idea shares have tanked nearly 10 per cent after the Supreme Court order’s on Adjusted Gross Revenue. As per self-assessment, telecom companies submit eight per cent of their AGR as license fees and about three or four per cent as spectrum usage charges. The central government was willing to provide 20 years for paying dues, but the apex court …

Supreme Court grants 10 years to telecom firms to pay AGR dues worth Rs 1.6 lakh crore
4 years, 3 months ago

Supreme Court grants 10 years to telecom firms to pay AGR dues worth Rs 1.6 lakh crore

Firstpost  

Failure to pay the instalments of the dues would incur penalty, interest, and contempt of court, the Bench cautioned the telecom firms New Delhi: The Supreme Court Tuesday granted 10 years to telecom firms such as Vodafone Idea, Bharti Airtel and Tata Teleservices for paying the Adjusted Gross Revenue -related dues to the Department of Telecommunications with certain conditions. Failure …

[Breaking] SC Grants 10 Years Period For Telecos To Clear AGR Dues; First 10% To Be Paid By March 2021 [Read Judgment]
4 years, 3 months ago

[Breaking] SC Grants 10 Years Period For Telecos To Clear AGR Dues; First 10% To Be Paid By March 2021 [Read Judgment]

Live Law  

The Supreme Court has held that the telecom companies who are liable to pay AGR dues shall make payment of 10% of the dues by March 31, 2021. - Teleco's have to make payments in yearly instalments commencing from 1.04.2021 upto 31.03.2031 - Adjusting Bank Guarantees to be kept alive by telcos until payments have been made Court further held …

Supreme Court directs telcos to pay AGR dues in 10 years
4 years, 3 months ago

Supreme Court directs telcos to pay AGR dues in 10 years

The Hindu  

The Supreme Court on Tuesday allowed telecom companies 10 years’ time to pay their adjusted gross revenue dues to the government. Even a single default will attract the dues along with interest, penalty and interest on penalty at the rate specified in the agreement”, the court warned the telcos. In the event of any default in making payment of annual …

Supreme Court grants 10 years to telecom companies to clear AGR dues of Rs 1.6 lakh crore
4 years, 3 months ago

Supreme Court grants 10 years to telecom companies to clear AGR dues of Rs 1.6 lakh crore

India Today  

The Supreme Court on Tuesday announced its verdict in the much-awaited Adjusted Gross Revenue case and granted 10 years time to telecom firms to clear outstanding dues. The top court added that 10 per cent of the total AGR dues have to be cleared by telecom firms by March 31, 2021. Last year the Apex court had passed orders directing …

SC to Pronounce Verdict on AGR-related Issue Tomorrow
4 years, 3 months ago

SC to Pronounce Verdict on AGR-related Issue Tomorrow

News 18  

The Supreme Court is scheduled to pronounce its verdict on Tuesday on issues including the timeline for staggered payment of Adjusted Gross Revenue-related dues which run into about Rs 1.6 lakh crore by telecom companies. The top court had in October 2019 delivered the verdict on the AGR issue for calculating government dues of telecom companies, such as Vodafone Idea, …

Supreme Court To Pronounce Judgment On The Payment Of AGR Dues By Telecom Companies Tomorrow
4 years, 3 months ago

Supreme Court To Pronounce Judgment On The Payment Of AGR Dues By Telecom Companies Tomorrow

Live Law  

Supreme Court will be delivering the judgement tomorrow on the issue pertaining to the payment of Adjusted Gross Revenue dues by telecom companies. On July 20, the Bench had reserved orders in the plea by the Department of Telecommunications against the October 2019, which sought to allow the telecom companies to make payments of the AGR dues in a staggered …

Vodafone-Idea's fate hinges on the Supreme Court's AGR verdict today
4 years, 4 months ago

Vodafone-Idea's fate hinges on the Supreme Court's AGR verdict today

Business Standard  

Vodafone-Idea's fate hinges on the Supreme Court's AGR verdict today The company's future as a going concern, as it has admitted in its results for the June quarter of 2020-21, will be crucially dependent on the SC decision on repayment tenure Premium VIL’s future as a going concern, as it has admitted in its results for the June quarter of …

SC warns against AGR dues’ reassessment
4 years, 5 months ago

SC warns against AGR dues’ reassessment

The Hindu  

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 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 observed that 15 …

SC bench slams telcos for seeking recalculation of AGR dues, says it can 'impose more costs than any other court before'
4 years, 5 months ago

SC bench slams telcos for seeking recalculation of AGR dues, says it can 'impose more costs than any other court before'

Firstpost  

‘The calculation that has been given by DoT is to be treated as final; there can be no scope of re-assessment,’ the Supreme Court held. The companies have been asked to pay the pending dues due to a Supreme Court ruling on 24 October last year when it upheld the government’s broader definition of AGR, on which it calculates various …

Vodafone Idea pays another Rs 1,000 crore to govt towards AGR dues
4 years, 5 months ago

Vodafone Idea pays another Rs 1,000 crore to govt towards AGR dues

India TV News  

Vodafone Idea on Saturday said it has paid additional Rs 1,000 crore to the government towards the statutory dues, taking its total payment to an aggregate Rs 7,854 crore. The company had earlier deposited Rs 6,854 crore in three tranches, Vodafone Idea said in a regulatory filing. "In line with the above, the company has yesterday paid a further sum …

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