Vodafone Idea - Latest News Update, Information, Photos & Videos on Vodafone Idea at Lokmat Times

This is a significant judgment pronounced by top court on the scope of Adjusted Gross Revenue (AGR)A bench headed by Justice Arun Mishra said telecom companies will have to shell out the dues. Department of Telecom (DoT) total demand is estimated around Rs 92,000 Cr."We allow the appeals of the DoT.... The gross revenue will prevail as defined, as 'gross revenue'," said the court citing no further excercise in connection with the calculations regarding the dues.Counsels for the companies sought six months to clear the dues.Solicitor General Tushar Mehta asked the court to allocate reasonable time limit, as there could be a third round of litigation challenging the calculations. The court specified that there should not be any further litigation on the matter.The apex court will also pass a separate order on the specific time frame for the telecom companies to pay their dues.The top court had reserved the order in August.The telecom companies have disputed the definition of adjusted gross revenue (AGR), forming the basis for both spectrum charges and licence fee, paid to the government.According to the DoT, the AGR should include dividends, handset sales, rent and profit from the sale of scrap besides revenue from services.The apex court said that most of things will come under the government's definition of AGR and telcom companies shall have to pay up.The top court also held that AGR will include within its net most of the revenues except for one or two. As a result, Airtel, Vodafone, Idea and other telecom operators will have to cough up thousands of crores of each in the light of this judgement.The 2015 telecom tribunal judgement, which forms the basis for companies to calculate AGR, including apparently some elements which are considered non-core to the telecom companies. The companies accordingly paid the dues connected with licence fee and spectrum charges, but DoT remained persistent with its demands.According to the DoT, major telecom players like Bharti Airtel owes Rs 21,682.13 crore as licence fee to the government and Vodafone Idea owes Rs 19,822.71 crore.( With inputs from IANS )

Vodafone IdeaFOLLOW

Vodafone idea, Latest News

Telecom Secretary Anshu Prakash on Wednesday met Cabinet Secretary Rajiv Gauba to discuss the way forward for the Committee of Secretaries set up to consider a relief package for the telecom sector. ...

Vodafone Idea on Wednesday said it continues to pay all its debts as per schedule and has not approached any lender for debt recast. ...

The telecom regulatory world is abuzz with feverish talk that the imperilled telecom operator, Vodafone, is ready to exit its India operations. ...

SBI Chairman Rajnish Kumar on Friday said while it is difficult to predict the impact of the Supreme Court order on telecom companies, the bank has well defined policies to lend to sectors and individual companies. ...

The board of Bharti Infratel on Friday extended the deadline to complete the merger with Indus Towers by 60 days to December 24 and also cleared that dilution of shares by existing holders will be lesser than earlier announced, thus also lowering the ...

Hit by an adverse judgement from the Supreme Court over the AGR issues, telecom stocks on Thursday dragged the Indian equity markets down. ...

The Supreme Court's upholding on Thursday of the Department of Telecom's (DoT) decision to collect past dues of around Rs 92,000 crore from telecom firms like Airtel and Vodafone Idea also includes Reliance Jio, though the amount owed by them is not ...

The Supreme Court on Thursday ordered telecom carriers, including Bharti Airtel and Vodafone Idea, to pay the government as much as Rs 92,000 crore in dues, which includes penalties and interest. ...