Bharti Airtel English news | Bharti Airtel, Latest News & Live Updates in English | English News (Latest English News) at Lokmattimes.com

Sources said, they have filed for the interest and penalty waiver and not on seeking extension.Review petitions are to be filed within a month of original decision which came on October 24. As per original order, they are to pay the dues by January 24. Both have made Rs 74,000 crore losses on account of Rs 53,000 crore provisioning for these dues payments.Bharti Airtel, Vodafone Idea and other telecom companies owe the government as much as Rs 1.47 lakh crore in past statutory dues, Telecom Minister Ravi Shankar Prasad had said in Parliament on Wednesday adding that there is no proposal at present to waive interest and penalties on such dues.In replies to questions in the Lok Sabha, Prasad had said telecom companies owe the government Rs 92,642 crore in unpaid licence fee, and another Rs 55,054 crore in outstanding spectrum usage charge. In the case of Bharti Airtel, the liabilities added up to nearly Rs 35,586 crore, of which Rs 21,682 crore is licence fee and another Rs 13,904 crore is the SUC dues (not including the dues of Telenor and Tata Teleservices).Airtel's colossal net loss of Rs 23,900 crore for just-ended September quarter was on account of exceptional charge pertaining to provisioning of Rs 28,450 crore towards the AGR dues, that included principle of Rs 6,164 crore, interest of Rs 12,219 crore, penalty of Rs 3,760 crore, and interest on penalty of Rs 6,307 crore.In the case of Vodafone Idea, this number stands at a cumulative Rs 53,038 crore, including Rs 24,729 crore of spectrum usage charge (SUC) dues and Rs 28,309 crore in licence fee.The government made it clear that it is not considering any proposal on waiver of penalties and interest on outstanding licence fee based on adjusted gross revenue (AGR), or on extending the timelines for telecom companies to pay up their statutory dues."No such proposal is under consideration of the government as on date," Prasad said while responding to specific questions on whether the government proposes to provide a waiver for penalties and interest on the non-payment of license fee on AGRs by telecom operators and also on whether it is consider ing extending the time limit for the payment of license fee, penalty, interest and other dues.( With inputs from IANS )

Bharti AirtelFOLLOW

Bharti airtel, Latest News

The Finance Ministry is not accounting any proceeds from the AGR dues of the telcos in the current fiscal as the case is in the Supreme Court via review petition and its final timeline cannot be ascertained at the moment. ...

The latest price hike by the top three telecom firms Airtel, Vodafone Idea and Jio will lead to shoring up their topline and earnings, improve average revenue per user (ARPUs) and may provide some cash for balance sheets to offset the provisioning ...

BSE Telecom index fell 3.5 per cent during the early trade on Tuesday after a government official was reported saying that the Committee of Secretaries (CoS) formed to suggest relief measure for struggling telecos, has been disbanded. ...

The committee of secretaries tasked to provide relief to the telecom sector headed by Cabinet Secretary Rajiv Gaur has been dismantled, said official sources. ...

Vodafone Idea's share price nearly doubled during the past week in expectation of a government relief package for the struggling telecom sector. Some relief did arrive but not enough to prevent a rating downgrade, which is set to hurt its stock's ste ...

Bharti Airtel, Vodafone Idea Ltd and Tata Teleservices on Friday individually filed review petitions in Supreme Court on the recent AGR verdict seeking waivers on penalties and interest, and interest on penalties, according to sources. ...

The country's two top telecom operators - Vodafone Idea and Airtel - on Friday filed review petitions in the Supreme Court against its AGR verdict, just ahead of the 30-day time period expiring Saturday since the court's order dealt a financial body ...

Airtel on Friday filed a review petition in the Supreme Court for the waiver of interest and penalty in the AGR amount. ...