SC gives telcos 10 yrs to clear AGR dues, NCLT to decide on spectrum sale

Jannie Delucca

The Supreme Court docket in its judgment in the make any difference of adjusted gross profits authorized telcos to pay out their outstanding dues in 10 several years. The court has authorized telcos to pay out 10 for every cent of their dues by March 31, 2021. Remaning instalments will need to have to be paid out by seven February just about every yr.

Any default will accrue fascination and non-payment will also invite contempt of court proceedings, mentioned the SC in its verdict. The providers have been requested to continue to keep modifying lender guarantees alive until the time payment is manufactured.

On the dilemma whether or not telcos could offer spectrum, the SC has left the dilemma to the wisdom of NCLT.

Earlier, immediately after the leading court had turned down pleas by Vodafone Concept, Bharti Airtel, and Tata Teleservices trying to get overview of the judgment which

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Latest news LIVE updates: SC gives telcos 10 years to clear AGR dues

Jannie Delucca

Postponed 2 times owing to coronavirus, the Joint Entrance Assessment of JEE (Major) for admission to top rated engineering faculties in the state will start with unparalleled preparations from today.

In the meantime, in a much-awaited judgment, the Supreme court docket will come to a decision on the tenure for staggered payment of AGR dues by the telcos. It will also clarify no matter if or not Reliance Jio has to shell out the significant AGR dues bill of Reliance Communications, whose spectrum it is applying, and Bharti Airtel of Aircel and Videocon for the exact same motive.

Auto providers will announce their regular gross sales info for August today.

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