Tribune News Service
New Delhi, September 1
The Supreme Court on Tuesday granted 10 years to telecom corporations, together with Vodafone Idea, Bharti Airtel and Tata Teleservices, to pay 1000’s of crores of rupees due from them on account of adjusted gross income (AGR).
A Bench led by Justice Arun Mishra directed the telecom corporations to pay 10 per cent of their Rs 1,43,271.74 crore AGR-related dues to the Department of Telecommunications (DoT) by March 31, 2021.
The high court docket made it clear that the businesses could not dispute the demand raised by the DoT in respect of the AGR dues on the idea of its October 2019 judgment and that there shall not be any reevaluation.
The fee needed to be made in yearly instalments commencing from April 1, 2021, as much as March 31, 2031, payable by March 31 of each succeeding monetary 12 months, it mentioned, directing the telecom companies and DoT to file compliance reviews by April 7 of every succeeding 12 months.
It ordered the managing director/chairman or different authorised officer of every firm to furnish an enterprise inside 4 weeks relating to the fee of arrears as per its order. The current financial institution ensures submitted relating to the spectrum shall be saved alive by the telecom service suppliers till the fee was made, it mentioned.
“In the event of any default, interest would be payable along with penalty and interest on penalty automatically without reference to court. Besides, it would be punishable for contempt of court,” mentioned the Bench, which additionally included Justice S Abdul Nazeer and Justice MR Shah.