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Sistema Shyam Teleservices to Indian court: RCom is liable for AGR dues
- Wednesday | 5th August, 2020
Sistema Shyam Teleservices Ltd (SSTL), which used to operate under the MTS India brand, has informed the Indian’s Supreme Court that only Reliance Communication is liable to clear its adjusted gross revenue (AGR) dues. Anil Ambani-led RCom had acquired SSTL’s entire telecom business in October 2017 including licenses and spectrum in nine circles. The comments came after the Supreme Court in its last AGR hearing asked for bankruptcy-related details of telcos such as Aircel, RCom, SSTL and Videocon within seven days. SSTL, in an affidavit, informed the court that it had already complied with the AGR judgement by paying Rs 72.90 lakh as per its assessment of deficit AGR dues. RCom had assumed the liability for SSTL’s spectrum amounting to Rs 390 crore ($52.7 million) per annum for the next eight years.
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