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The Supreme Court on Monday, during the hearing on the adjusted gross revenue (AGR) matter of telecom companies, questioned the Centre as to how is it possible to sell the spectrum and whether it is transferable. A bench, headed by Justice Arun Mishra, told Solicitor General Tushar Mehta, representing the Department of Telecommunications (DoT), to come prepared on the next hearing, and explain how can spectrum be sold or whether is transferable. The bench also asked Mehta to get the NCLT orders connected with the query, as it scheduled the next hearing on the matter on August 14. Mehta contended before the bench that the government has filed an appeal saying spectrum is a national property and it should not be part of bankruptcy assets. At this, the bench questioned: "Why there was a delay in filing the appeal? What if the spectrum is sold in the meanwhile?" Mehta contended before the bench that the Centre has told the National Company Law Tribunal that spectrum is a national property, cannot be an asset of the company, and it cannot be sold. The bench also questioned how Aircel's spectrum and license were sold and who gave the permission for it. Aircel's monitoring committee's lawyer contended before the bench that no dues to government are be paid under the bankruptcy resolution plan, and insisted that he will place the details in court. The lawyer contended that the company paid the money to buy spectrum, and it is a transferable asset. The Centre, however, said Aircel's dues were Rs 12,000 crore. As the bench questioned the DoT as to how it proposes to recover the <keyword id="8275485" type="UNKNOWN" weightage="20" keywordseo="agr-dues">AGR dues</keyword> from a company which has gone into insolvency, Mehta replied that DoT's stand is that spectrum cannot be part of bankruptcy assets.

Supreme Court adjourns AGR case hearing to August 14

The Supreme Court on Monday reserved its judgment on the issue of recovery of adjusted gross revenue (AGR) dues from insolvent telecom companies. A bench headed by Justice Arun Mishra is likely to pronounce the judgment on three counts: Staggered payment schedule, where the Centre said it is fine with 20-year arrangement to recover AGR dues; Can spectrum be transferred or sold by companies under IBC; and, additional liabilities, if any, on Jio, Airtel for the past dues of RCom, Videocon, and Aircel. Airtel had spectrum sharing and trading pacts with Videocon and Aircel, whereas Jio had it with RCom. The court had asked the Department of Telecommunications (DoT) to share the details of 'demand under process' for raising the liabilities against Airtel and Jio in the backdrop of spectrum-sharing. The bench also comprising Justices S Abdul Nazeer and MR Shah observed that if DoT does not provide the correct position on the AGR demands, then the due figures quoted in the ruling could go wrong. "It has been nearly 10 months to the AGR ruling -- why has the DoT not yet raised the demand?" The DoT informed the bench that no demand has been raised against Jio and Airtel for part dues of RCom and Videocon, and that the assessment of Jio and Airtel liability for the past dues is "under process". Senior Advocate Harish Salve, appearing for Committee of Creditors for RCom, contended before the bench that the right to use spectrum is an "asset which can be sold", if the company wants to. Salve added that the resolution plan proposes the sale of the right to use spectrum is in line with the licence trading guidelines. Senior Advocate Kapil Sibal, appearing for Airtel, contended that if the liability of the past dues of Videocon were to be imposed on Airtel, why wait for so long. Instead, the DoT should have clarified it long back, he argued. The court observed that according to trading guidelines, the seller of the spectrum shall satisfy all pending dues, before the sale. The bench said that it understood that upon the non-payment of dues by the seller, the trading guidelines would transfer the burden on the buyer. The DoT counsel contended that under trading guidelines, the past dues have to be cleared prior to the spectrum-trading, and under these guidelines, the DoT could recover the dues from seller and buyers. The bench questioned why no demand was raised against Airtel for the past dues of the Videocon spectrum. Sibal said Airtel had been paying all pending dues since the acquisition of the Videocon spectrum in May 2016. The apex court remarked that what is being proposed seems like renting out a house to a tenant and the latter selling the house under Insolvency and Bankruptcy Code.

Supreme Court reserves order on recovery of AGR dues from insolvent telecom companies

The Supreme Court on Tuesday asked Department of Telecommunication (DoT) not to invoke bank guarantee given by Bharti <keyword id="15491" type="General" weightage="20" keywordseo="airtel" source="Orion">Airtel</keyword> for a period of three weeks for not clearing Videocon Telecommunications Ltd's adjusted gross revenue (AGR) dues of over Rs 1,300 crore. A bench headed by Justices L. Nageswara Rao and comprising Justices S. Abdul Nazeer and M. R. Shah declined to entertain Airtel's plea challenging the DoT demand, but it allowed the telecom firm to approach the appropriate forum against the government decision. Senior advocate Shyam Divan, representing Bharti Airtel, argued that his client received a communication on August 17, saying the firm must make payment and if it fails to do so, then there is a possibility of invoking various bank guarantees. He contended that Rs 18,000 crore dues have already been paid by the telecom company, according to the top court's order and there is another figure, which is attributed to Videocon Telecommunications. He added that there is a particular spectrum traded by Videocon to Airtel and citing the spectrum trading guidelines, he added the seller shall clear all dues prior to concluding any agreement for spectrum trading. "The liability is of Videocon... full liability of the seller," submitted Divan. Divan argued that by adding the dues of Videocon to the demand made from Airtel, the DoT has violated the apex court's order that AGR dues cannot be recalculated or reassessed. The top court said it will not interfere with its order, rather it will grant liberty to Airtel to move any other alternate forum to redress its grievances. Divan said that the alternate forum will be the Telecom Disputes Settlement and Appellate Tribunal (TDSAT). Earlier this year, in an affidavit filed before the Supreme Court on the status of statutory dues paid by telecom operators, the DoT said it is planning to slap Videocon Telecommunications Ltd's AGR dues over Rs 1,300 crore on Bharti Airtel. Videocon Telecommunications had sold spectrum of 30 MHz to Bharti Airtel in 2016. Concluding the hearing, the top court allowed Airtel to withdraw the application and also restrained the DoT from invoking its bank guarantees for 3 weeks. According to the Centre's calculations, the total AGR liability of Bharti Airtel is Rs 43,980 crore, Vodafone Idea's is Rs 58,254 crore, Tata group's is Rs 16,798 crore, BSNL owes Rs 5,835.85 crore, and MTNL Rs 4,352.09 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/airtel-added-5-million-new-4g-users-tariff-hike-hopes-and-record-broadband-customer-addition-surge-share-price/articleshow/85039298.cms">Five million new 4G users, tariff hike hopes and record broadband customer addition send Airtel's stock to a 6-month high</a> <a href="https://www.businessinsider.in/business/telecom/news/the-enormous-gap-between-vodafone-idea-on-one-hand-airtel-and-jio-on-the-other/articleshow/85035781.cms">The enormous gap between Vodafone Idea on one hand, Airtel and Jio on the other</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-loses-over-4-million-subscribers-airtel-and-jio-add-over-9-million-in-june/articleshow/85589113.cms">Vodafone Idea loses over 4 million subscribers, Airtel and Jio add over 9 million in June</a>

AGR case: Supreme Court directs DoT not to enchash Airtel's bank guarantees for three weeks

A day after Bharti Airtel approached the <keyword id="6354977" type="COMPANY" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> over the assessment of adjusted gross revenue (AGR) calculations, <keyword id="1553175" type="PERSON" weightage="20" keywordseo="Vodafone-Idea">Vodafone Idea</keyword> also moved the top court seeking "correction" in the AGR assessment. The petition filed by the telco on Thursday said that payments made by the company have not been accounted for in the AGR demands issued by the department. Further, it also said that double counting has been done on some revenue items in the AGR demands. It also said that deduction has not been given for PSTN related call charges and for roaming charges actually paid to other operators. "The excess demand upon the applicant which is attributable to these error amounts to Rs 5,932 crores of principal amount, which would have an overall impact of over four times on the total principal amount aforementioned due to the imposition of interest, penalty and interest on penalty," the petition said. In September, the <keyword id="6356229" type="COMPANY" weightage="20" keywordseo="apex-court">apex court</keyword> allowed telecom operators 10 years to pay up <keyword id="8275485" type="UNKNOWN" weightage="20" keywordseo="agr-dues">AGR dues</keyword>. Vodafone Idea's total AGR dues as per DoT stood at Rs 58,254 crore, while the dues according to the company stood at Rs 21,533 crore. The company has paid AGR dues worth of Rs 7,854 crore so far. Shares of the telco moved higher on the development. Around 1.08 p.m. Vodafone Idea shares on the BSE were trading at Rs 12.17, higher by 1.67 per cent from its previous close. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/airtel-approaches-supreme-court-claiming-error-in-assessment-of-agr-dues-by-dot/articleshow/80135781.cms">Airtel approaches Supreme Court claiming error in assessment of AGR dues by DoT</a>

Vodafone Idea approaches Supreme Court over AGR dues

New Delhi, After being rapped by the Supreme Court for failing to deposit <keyword id="8275485" type="UNKNOWN" weightage="20" keywordseo="agr-dues">AGR dues</keyword>, <keyword id="15492" type="COMPANY" weightage="20" keywordseo="Vodafone">Vodafone</keyword> Idea on Monday moved the apex court stating it can as of now pay only Rs 2,500 crore of the arears to the government and will follow it up with another Rs 1,000 crore by February 21. The telecom firm also appealed to the top court that the <keyword id="62528" type="COMPANY" weightage="20" keywordseo="Department-of-Telecom">Department of Telecom</keyword> should not take any coercive action and invoke bank guarantees, as an action of this nature would have consequences and it would eventually hamper their operations. The Supreme Court declined to entertain the telco's plea seeking "no coercive action". According to counsels, Vodafone contended before the court that Rs 3,500 crore is 50 per cent of its estimated principle AGR dues of Rs 7,000 crore. Vodafone is estimated to pay Rs 53,000 crore to the government as part of its AGR dues. According to reports, it has informed the government that it is examining all avenues as to how much of AGR dues it could pay off.

Vodafone offers to pay ₹2,500 crore upfront yet SC refuses to back down on 'coercive action

New Delhi, Mar 16 () Loss-making telecom operator Vodafone Idea on Monday said it has made an additional payment of Rs 3,354 crore towards adjusted gross revenue (AGR) to the Department of Telecom (DoT), thereby completing payment of principal amount calculated on self-assessment basis. With this fresh payment, Vodafone Idea (VIL) has paid Rs 6,854 crore towards AGR dues. "The company has today (Monday) paid a further amount of Rs 3,354 crore to the DoT, being the balance part of the principal amount towards AGR liability. Thus, the company has paid the full principal amount of Rs 6,854 crore towards AGR dues," VIL said in a BSE filing. The DoT has raised total demand of around Rs 53,000 core for AGR liability of VIL which included interest, penalty and interest on delay in payment of the amount. VIL said it had filed its self assessment of the AGR liabilities with the DoT pm on March 6, 2020, in which AGR liability principal amount of Rs 6,854 crore was determined for the period from financial year 2006-07 to FY 2018-19. The company had earlier paid Rs 2,500 crore on February 17, 2020, and Rs 1,000 crore on February 20 towards AGR liabilities. PRS MBI ANSANS

Vodafone Idea pays Rs 3,354 cr to govt in AGR dues, claims principal amount fully paid now

Bharti <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword> has approached the <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> over the assessment of adjusted gross revenue (AGR) dues payable by the company. According to the telecom operator, the assessment by the Department of Telecommunications (<keyword id="16054" type="ORGANIZATION" weightage="20" keywordseo="DoT">DoT</keyword>) has errors. As per DoT's assessment, Airtel's total dues stand at ₹43,980 crore, out of which ₹25,976 crore is due. Airtel's calculation, however, shows that its total dues stand at ₹13,004 crore. The telco has already paid ₹18,004 crore. "The applicants pray that the respondents be permitted to complete the process of assessments after considering the representations made by the applicants in this respect (including for the mathematical and calculation errors) and thereby determine the amounts due and payable," Airtel's petition said. The petition also seeks "limited clarification" or modification or recall of the orders dated March 18, 2020, September 20, 2020, and paragraph 38 (i) of the order dated September 1, 2020. In September, the apex court allowed telecom operators 10 years to pay up AGR dues. After Airtel's approach to the top court, there is anticipation that Vodafone Idea may make a similar move. Vodafone Idea's total AGR dues as per DoT stood at ₹58,254 crore, while the dues according to the company stood at ₹21,533 corre. So far, the company has made a total payment of ₹3,500 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/the-agr-verdict-could-lead-to-a-reliance-jio-and-airtel-duopoly-in-the-indian-telecom-sector/articleshow/77883407.cms">The AGR verdict could lead to a Reliance Jio and Airtel duopoly in the Indian telecom sector</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-added-3-77-million-and-jio-added-1-46-million-new-subscribers-in-september-month/articleshow/79558962.cms">Airtel records 3.8 million new subscribers in September – more than twice that of Reliance Jio’s additions</a>

You Searched For "agr" and got 7 results

Supreme Court adjourns AGR case hearing to August 14

IANS

Supreme Court reserves order on recovery of AGR dues from insolvent telecom companies

IANS

AGR case: Supreme Court directs DoT not to enchash Airtel's bank guarantees for three weeks

IANS

Vodafone Idea approaches Supreme Court over AGR dues

IANS

Vodafone offers to pay ₹2,500 crore upfront yet SC refuses to back down on 'coercive action

IANS

Vodafone Idea pays Rs 3,354 cr to govt in AGR dues, claims principal amount fully paid now

PTI

Airtel approaches Supreme Court claiming error in assessment of AGR dues by DoT

IANS

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