AGR dues: Supreme Court calls for books of accounts of Airtel, Vodafone, Tata

Supreme Court today directed several telecom companies to submit ir books of accounts and or financial documents of last ten years before Top Court during hearing on pending justed Gross Revenue (AGR) dues.

Airtel, Vodafone-Idea and Tata are included in companies that will w have to file all ir financial details of last ten years before Supreme Court bench of Justices Arun Mishra, Abdul Nazeer and MR Shah before Court can decide how much time ought to be granted to companies to pay pending dues.

Centre also told Supreme Court today that in light of last hearing, Central Government h decided to roll back its decision of recovering dues from Public Sector Undertakings (PSUs).

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Airtel represented by Senior vocate Abhishek Manu Singhvi before Supreme Court states that company h alrey paid Rs. 18,000 crores of its pending Rs. 21,000 in dition to a bank guarantee given to Department of Telecommunications which could be encashed.

Counsel for Vodafone, Senior vocate Mukul Rohatgi told Supreme Court that company was t in a position to make any more payments due to loss in profits for several quarters.

Rohatgi told Supreme Court that Vodafone was running into losses of Rs. 1 lakh crores. “If I am asked to pay entire amount tomorrow, I will have 11,000 employees who will be left with jobs,” Rohatgi told bench.

lawyer for Tata, Senior vocate Arvind Datar told Supreme Court that company h paid over Rs. 36,000 crores in AGR dues and requested Court to allow for remaining payment to be me in parts.

Supreme Court bench allowed an opportunity for all parties to come toger and formulate a scheme for payment of dues in a phased manner. Supreme Court also directed all companies to provide ir books of accounts of last ten years before next date of hearing in July.

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