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India’s Supreme Court reserves AGR verdict, 20 years too long
- Thursday | 23rd July, 2020
India’s Supreme Court has reserved its verdict on the timeline for the payment of Adjusted Gross Revenue (AGR) dues by telecom service providers like Bharti Airtel and Vodafone Idea. Telcos are still challenging the AGR calculation by DoT (Department of Telecommunications),” Mishra said during the AGR hearing. Both companies will now have to pay Rs 25,976 crore ($3.49 billion) and Rs 50,399 crore ($6.76 billion), respectively. India’s Solicitor General Tushar Mehta told the court that the Indian government stands by its decision to offer a 20-year repayment timeline to telecom companies. The court rejected lower assessments made by telecom companies and sternly told all telecom companies that the Indian government’s calculation of AGR dues was final.
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