AGR: Voda Idea, Bharti Airtel file modification petition in Supreme Court

Vodafone Idea and Bharti Airtel on Monday filed a modification petition in the Supreme Court, seeking an extension of the January 23 deadline to pay adjusted gross revenue (AGR) dues. Tata Tele also moved the apex court seeking an extension of the deadline according to TV reports.

The latest development comes after the Supreme Court on Thursday rejected a review petition by the telcos, in a massive blow to the telecom industry, facing severe financial stress. 

The Supreme Court, in its order on October 24 last year, had asked telcos to pay up their AGR dues within 90 days. 

Sources at telecom firms had earlier said it wouldn’t be possible to cough up the entire AGR dues in a week, and that they were looking at the government's approval to a staggered payment. Vodafone Idea and Bharti, the worst hit, have to pay Rs 53,038 crore and Rs 35,586 crore, respectively, towards their AGR dues.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel