Sunday, July 25, 2021
Home Uncategorized Supreme Court Gives Verdict on AGR - Got 10 Years To Repay...

Supreme Court Gives Verdict on AGR – Got 10 Years To Repay Dues
S

AGR Case Supreme Court Decision- In the case of Adjusted Gross Revenue (AGR), the Supreme Court has given a big relief to the telecom companies in the judgment. He has got 10 years to pay the AGR dues.

New Delhi: The Supreme Court of India has given a big relief to the Telecom Companies in the judgment of the Adjusted Gross Revenue (AGR) case. Companies have got 10 years to pay AGR dues. However, the companies had asked for 15 years. After this news, Vodafone-Idea shares fell over 10 percent on the NSE. At the same time, Bharti Airtel’s stock has gained 5% strongly. The Supreme Court gave its first verdict on 24 October 2019 on the outstanding dues of AGR. After this, Vodafone Idea had openly said that if it is not bailout then it will have to stop its operations in India.

Let us tell you that Vodafone Idea and Bharti Airtel had asked for 15 years to repay the AGR dues. So far 15 telecom companies have paid only Rs 30,254 crore, while the total outstanding is Rs 1.69 lakh crore.

Telecom companies get 10 years time – The bench headed by Justice Arun Mishra has allowed paying the AGR dues in 10 years. The Supreme Court in its ruling has asked the telecom companies to pay 10% of AGR’s outstanding dues now and pay the remaining amount in the next 10 years. Telecom companies will have to submit an affidavit to pay AGR dues. If companies default on payments during these 10 years, then interest and penalty will have to be paid.

WHAT IS AGR MATTER – In simple words, Adjusted Gross Revenue (AGR) is the usage and licensing fees charged by the Department of Telecommunications (DoT) from telecom companies. It has two parts – spectrum usage charge and licensing fees, which are 3-5% and 8% respectively. The Telecom Department states that the AGR should be calculated based on the total revenue generated by a telecom company, including income from non-telecom sources such as deposit interest and asset sales.

At the same time, the telecom companies said that AGR should be calculated only on the basis of income from telecom services. But last year, the Supreme Court ruled against the telecom companies and said that they should immediately pay the arrears of AGR. The total dues of about 15 telecom companies are around Rs 1.69 lakh crore.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Uttarakhand: Roadshow of Chief Minister Pushkar Singh Dhami in Rudrapur, enthusiasm among workers

Chief Minister Pushkar Singh Dhami is on a tour of Udham Singh Nagar district since Friday. When the Chief Minister reached Rudrapur on Friday,...

Terrorist conspiracy foiled: Drone shot down by police in Jammu and Kashmir, 5 kg IED recovered

A Pakistani drone has been shot down by the police in the Kanachak area of ​​Jammu and Kashmir. According to news agency ANI, five...

CM Dhami’s big announcement regarding Devasthanam board, the government in favor of amending the act, the decision will be taken soon

Uttarkashi. CM Dhami said that a high-level committee is being constituted regarding the Act. This committee will give its recommendation after discussion with all....

Satpal Maharaj filled the enthusiasm among BJP workers, said that the workers are more concerned about the country than the family

Chamoli. Bharatiya Janata Party is a party of such workers who care more about the country than their family. He is engaged in the...

Dhami government’s firm intention to fill 24 thousand vacant posts focus on connecting youth with self-employment

Dehradun. Since coming to power in his hands, the focus of Chief Minister Pushkar Singh Dhami is to open new jobs in government and...

Shilpa Shetty’s husband Raj Kundra was arrested for making porn movies and uploading on the app, know-how Raj Kundra used to run this hoax

Mumbai. Shilpa Shetty's husband Raj Kundra has been arrested for making porn movies and uploading them on the app. He has been arrested by...

Chief Minister Pushkar Singh Dhami’s visit to Kedarnath and Rudraprayag canceled

Dehradun. Today's tour program of Chief Minister Pushkar Singh Dhami to Kedarnath and Rudraprayag has been canceled in view of heavy rains and disasters...

Uttarakhand: Government extends Covid curfew till July 27, cinema halls will open with 50 percent capacity

Despite the decreasing corona cases in Uttarakhand, the government is not in a mood to give much laxity. The government has extended the corona...

Sharad Pawar met PM Narendra Modi in Delhi, once again the round of speculation started

National Congress Party (NCP) chief Sharad Pawar met Prime Minister Narendra Modi in Delhi on Saturday (July 17). After this, a period of speculation...

Uttarakhand: Chief Minister Mahalaxmi Yojana will start in the state today, CM Dhami will launch

Mukhyamantri Mahalaxmi Yojana will start in Uttarakhand from today. Chief Minister Pushkar Singh Dhami will launch the scheme from CM Awas. Women Empowerment and...