The Supreme Court on Monday asked the telecom companies that it would not hear arguments for a few seconds about re-estimation of arrears related to adjusted gross revenue. The adjusted gross revenue (AGR) amount to about Rs 1.6 lakh crore. A bench of Justice Arun Mishra, Justice S. Abdul Nazir and Justice MR Shah completed the hearing on the issue of deadline for payment of arrears related to adjusted gross revenue by telecom companies. The bench will pronounce its decision later.
When the issue of re-calculation of arrears was raised during the hearing of the case through video conference, the bench immediately said that we will not hear a second debate on the re-assessment (arrears related to adjusted gross revenue). The bench also remarked that 15-20 years time is not rational and these companies should be given a viable time.
Earlier, the centre had requested the court to give 20 years time to these telecom companies to pay the dues related to AGR in a phased manner. The apex court said it would consider the aspect of bona fides of some telecom companies going for insolvency process. The apex court was informed on 18 June by the Centre that the Department of Telecommunications has decided to withdraw 96 per cent of the demand for payment of Rs 4 lakh crore as dues related to AGR from non-communication PSUs like GAIL.
Vodafone Idea rebuked
During the hearing of the Adjusted Gross Revenue (AGR) case in the Supreme Court today, a three-judge judge bench of the Supreme Court asked Vodafone Idea lawyer Mukul Rohatgi that if you have been incurring losses for several decades, how can we trust you? can do? How will you ensure payment of AGR dues? Earlier, in its judgment on 18 June, the court had asked Vodafone Idea, Bharti Airtel and Tata Teleservices to give a balance sheet of a decade. Vodafone Idea lawyer Mukul Rohatgi told the Supreme Court today that, “We have recorded the balance sheet and tax details of a decade”.Additionally, during the hearing of AGR case, Justice Arun Mishra said, ‘If you do not follow our orders, we will take strict action against you. Whoever is doing wrong, we can send them directly to jail.