AGR Case LIVE Updates | SC allows 10 years for staggered payment of AGR dues by telcos

AGR Case LIVE Updates | A Supreme Court bench led by Justice Arun Mishra delivered the judgement on the repayment of adjusted gross revenue (AGR) dues by telecom companies.

The Supreme Court delivered its verdict in the matter pertaining to the repayment of adjusted gross revenue (AGR) dues by telecom companies on September 1. The bench of Justices Arun Mishra, S Abdul Nazeer and MR Shah allowed a 10-year timeline for payment of AGR dues by telecom companies, will begin from April 1, 2021.

AGR Case LIVE Updates | No doubt that there will be review and curative. Spectrum Usage Charge (SUC) does not constitute AGR and this is a jurisdictional question: Abhishek Manu Singhvi, counsel For Bharti Airtel, to CNBC-TV18.
AGR Case LIVE Updates | Telecom stocks trade mixed after AGR verdict. Bharti Airtel, RCom rally, while Vodafone Idea tanks 15 percent
AGR Case LIVE Updates | The date fixed for annual installment of AGR dues by telecom companies is February 7, the SC said. Existing bank guarantee given to be kept alive and Managing Director to give the undertaking to comply with the schedule.
AGR Case LIVE Updates | Government was willing to give 20 years but SC said 10. Each company will decide if they want to file a review petition: Senior advocate Kapil Sibal, who had represented Bharti Airtel, to CNBC-TV18.
AGR Case LIVE Updates | SC clarifies again that no revaluation as regards AGR dues to be allowed, legal news website Bar & Bench reported.
AGR Case LIVE Updates | The bench of Justices Arun Mishra, S Abdul Nazeer and MR Shah said the 10-year timeline for payment of AGR dues will begin from April 1, 2021, and the payments can be made in installments till March 31, 2031.
AGR Case LIVE Updates | The SC has directed telcom companies to pay 10 percent of the AGR dues upfront. Telcos to submit undertaking to pay AGR dues as per SC order. Default in payments would invite interest, penalty, along with contempt of court.
JUST IN | SC allows 10 years for staggered payment of AGR dues
AGR Case LIVE Updates | Agree that whether spectrum sale can be allowed U/IBC is to be decided by NCLT: SC