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: The Supreme Court on Monday reserved its order on the schedule of the phased payment of assessed contributions related to adjusted gross income (AGR) by telecommunications operators, including Vodafone Idea, Bharti Airtel and Tata Teleservices. Both Vodafone Idea and Bharti Airtel have requested a 15-year window to eliminate quotas, while Tata Teleservices has searched for 7-10 years.
The court also ordered the Department of Telecommunications (DoT) to file the details of the insolvency proceedings of bankrupt telecommunications companies Reliance Communications (RCom), Aircel and Videocon Telecom within seven days.
A bank headed by Judge Arun Mishra noted that RCom has huge unpaid AGR fees, and the high court will examine whether the insolvency proceedings are in good faith. The court will address the issue of insolvency proceedings on August 10.
Vodafone Idea shares finished 1.8% at ₹ 9.04, while Bharti Airtel shares rose 1.5% to ₹ 575.75 on BSE. The Sensex benchmark index stood at 37,418.99 points, more than 1% from the previous close.
On October 24, the trial court upheld AGT's broader definition of the DoT and ordered telecommunications companies to pay liens based on that definition, along with interest on the amount of the principal and the fine. DoT calculates levies as SUC and AGR-based license fees.
The court ordered 15 telecommunications companies, including those that closed their operations, to pay Rs 1.47 trillion in AGR installments within three months.
On Friday, Vodafone Idea paid the DoT another ₹ 1 billion rupees as part of its AGR-related fees, bringing the total payments from the embattled telecoms operator to ₹ 7,854 million rupees.
According to Bharti Airtel's self-assessment, he owes Rs 13.00 million to the DoT. The telecom company has already paid this amount along with an additional Rs 5 billion in ad-hoc payments subject to reimbursement after the DoT reconciles its own estimates with those of the telecom company.
Reliance Jio Infocomm has already paid ₹ 195 crore to the DoT, settling its installments until January 31, 202
The court also ordered the Department of Telecommunications (DoT) to file the details of the insolvency proceedings of bankrupt telecommunications companies Reliance Communications (RCom), Aircel and Videocon Telecom within seven days.
A bank headed by Judge Arun Mishra noted that RCom has huge unpaid AGR fees, and the high court will examine whether the insolvency proceedings are in good faith. The court will address the issue of insolvency proceedings on August 10.
Vodafone Idea shares finished 1.8% at ₹ 9.04, while Bharti Airtel shares rose 1.5% to ₹ 575.75 on BSE. The Sensex benchmark index stood at 37,418.99 points, more than 1% from the previous close.
On October 24, the trial court upheld AGT's broader definition of the DoT and ordered telecommunications companies to pay liens based on that definition, along with interest on the amount of the principal and the fine. DoT calculates levies as SUC and AGR-based license fees.
The court ordered 15 telecommunications companies, including those that closed their operations, to pay Rs 1.47 trillion in AGR installments within three months.
On Friday, Vodafone Idea paid the DoT another ₹ 1 billion rupees as part of its AGR-related fees, bringing the total payments from the embattled telecoms operator to ₹ 7,854 million rupees.
According to Bharti Airtel's self-assessment, he owes Rs 13.00 million to the DoT. The telecom company has already paid this amount along with an additional Rs 5 billion in ad-hoc payments subject to reimbursement after the DoT reconciles its own estimates with those of the telecom company.
Reliance Jio Infocomm has already paid ₹ 195 crore to the DoT, settling its installments until January 31, 202
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