On August 10, the SC had observed that the government should prepare a plan to recover AGR dues from bankrupt telcos. Representing RCom, the State Bank of India (SBI), had said the amount payable under a resolution plan shall be paid on priority to operational creditors over financial creditors. The application for intervention was filed by SBI on behalf of committee of creditors of RCom including BoB, Axis Bank, UCO Bank, Punjab National Bank, HDFC, and LIC. This appeal came after the SC said it would examine the AGR dues of firms that have gone into bankruptcy.
According to the DoT’s calculations, Bharti Airtel owes Rs 43,780 crore of AGR dues, of which the company has paid Rs 18,004 crore. Vodafone Idea has so far paid Rs 7,854 crore of Rs 50,399 crore dues. Tata Teleservices has paid about Rs 4,197 crore and the balance amount due is about Rs 12,601 crore.
In an affidavit filed with the SC, Sistema Shyam Teleservices (SSTL) had said that RCom was liable to pay its AGR dues. The DoT has evaluated a combined AGR liability of Rs 25,194.58 crore for RCom and SSTL as of March 6. Of that, Rs 222.1 crore belongs to the Indo-Russian joint venture that merged into RCom in 2017. In February 2019, RCom filed for insolvency.
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