AGR crisis: Supreme Court agrees to hear telcos modification plea

As per estimates, Airtel has to pay Rs 21,682 crore while Vodafone Idea’s dues towered above Rs 28,308 crore The Supreme Court said on Tuesday it will take up the adjustment petition submitted by telecom operators Vodafone Idea, Bharti Airtel, and Tata Teleservices on offering them more time to pay off adjusted gross profits (AGR)associated dues. The telecom companies have statutory charges of Rs 93,000 crore that they need to pay to the Department of Telecommunications( DoT ). The last date to settle these fees is 23 January. The matter was mentioned before a bench headed by Chief Justice SA Bobde, who said it will list the fresh pleas “at some point in next week” before the same bench which had actually heard the earlier petition in the event. The telecom operators had actually filed the modification plea in the Supreme Court on Monday, seeking an extension of the January 23 deadline to pay earnings charges. The telcos in their fresh pleas requested for an open court hearing with regard to exercising fresh schedule of payment of their charges. Reacting to the demand, the CJI said that “open court or in-chamber hearing will be chosen by the bench worried”. Likewise Read: Vodafone Idea stock increases 17 % on plea for extension of Jan 23 deadline to pay revenue fees The government will reportedly not take any action versus telcom companies till the plea is heard. Previously on January 16, a bench headed by Justice Arun Mishra had declined telecom business’ evaluation petitions in the AGR case, stating it did not discover any “understandable reason” to captivate them. Also Read: AGR crisis: Airtel, Voda Idea file adjustment petition in Supreme Court to extend deadline In its last order on October 24 last year, the Supreme Court had asked telcos to pay up their AGR dues within 90 days. The AGR dispute goes back to 2003 when the association of telecom operators submitted the very first plea with the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) challenging the meaning of AGR. As per standard accounting practice, companies have to make provisions for such claims. Based on price quotes, Airtel has to pay Rs 21,682 crore while Vodafone Idea’s fees dominated Rs 28,308 crore. By Chitranjan Kumar