Vodafone Idea pays ₹1,000 cr in AGR dues
1 min read . Updated: 20 Jul 2020, 08:30 AM ISTThe company has paid an aggregate amount of ₹7,854 crore towards the AGR dues
Telecom major Vodafone Idea Ltd on Saturday said it paid an additional ₹1,000 crore to the department of telecommunications (DoT) on 17 July, as part of its adjusted gross revenue (AGR) dues, ahead of the Supreme Court’s hearing on Monday.
“The company had earlier deposited ₹6,854 crore in three tranches. The company has thus paid an aggregate amount of ₹7,854 crore towards the AGR dues ," it said in a regulatory filing.
In an October ruling, the Supreme Court had upheld DoT’s definition of AGR and asked mobile operators to pay levies based on that definition, along with interest on the principal amount and penalty.
In its submission before the apex court seeking relief in the payment tenure for telcos, DoT had pegged Vodafone Idea’s dues at ₹58,254 crore.
“The ship is barely afloat. The only way to pay AGR dues is to stagger payments over 20 years," senior advocate Mukul Rohtagi, representing Vodafone Idea, told the court on 18 June.
The loss-making telco will have to shut operations if it was asked to pay its dues upfront and this will impact 11,000 employees, he said.
romita.m@livemint.com
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