Tata Sons dials banks to pay Rs 1,250 cr Tata Tele AGR dues and loans

March 31 is last date for paying 10% AGR dues as per Supreme Court order on telecom firms

Topics
Tata Sons | Tata Teleservices

Dev Chatterjee  |  Mumbai 

Tata Sons, the parent company of Tata Teleservices, is in talks with banks to raise funds to pay latter’s dues to the banks and to the Indian government.

The loss-making telecom company has to pay Rs 1,250 crore of dues to banks and another 10 per cent of outstandings to the government as AGR (adjusted gross revenue) as per the Supreme Court judgement before March end, said a banking source. The DoT on March 16 last year had moved the Supreme Court seeking recovery of Rs 16,798 crore as the demand towards LF, Spectrum Usage Charges (“SUC”), interest, penalty and ...

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, February 15 2021. 15:40 IST
RECOMMENDED FOR YOU