Left Menu
Development News Edition

Disappointed with SC dismissing AGR review plea; may file curative petition: Airtel


Disappointed with SC dismissing AGR review plea; may file curative petition: Airtel

With the Supreme Court dismissing its review petition on AGR dues, telecom company Bharti Airtel on Thursday said it is disappointed, and evaluating options to file a curative petition in the matter. "While respecting the Supreme Court's decision, we would like to express our disappointment as we believe the long standing disputes raised regarding the AGR definition were bonafide and genuine," Airtel said in a statement.

The company is "evaluating filing a curative petition", it added. "The industry continues to face severe financial stress and the outcome could further erode the viability of the sector as a whole. The industry needs to continue to invest in expanding networks, acquiring spectrum and introducing new technologies like 5G," it said.

The money now required to pay punitive interest, penalty and interest on penalty which forms nearly 75 per cent of AGR dues would have better served the digital mission of the country, Airtel added. The comments came after the Supreme Court dismissed the plea of telecom majors, including Bharti Airtel and Vodafone Idea, seeking review of certain directions of the apex court on recovery of past dues amounting to Rs 1.47 lakh crore from telecom service providers.

The recovery of past dues by the government was based on adjusted gross revenue (AGR) of about Rs 92,000 crore. A bench comprising Justices Arun Mishra, S A Nazeer and M R Shah did not find merit in the review plea.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION/BLOG/INTERVIEW

Beware! Maximum cyber criminals eye your personal data

A report of the World Economic Forum revealed that cyber security is increasingly becoming an issue of public security as the majority of cyber criminals are increasingly targetting individual internet users. This requires preventive measur...

WEF 2020: Trump seems politically correct in pulling out from Paris Agreement

If the survey of the World Economic Forum WEF is believed, Trump seems to enjoy the confidence of his people in flaying climate intuitions and climate activists. His preference for economic development over environmental protection not only...

From home to healthcare, here are Robotic innovations transforming lives

Lovot is equipped with more than 50 sensors such as thermography, microphone array, obstacle detection, and touch sensor to generate motion and emotions in real-time....

Translating words to deeds: Achieving gender parity in access to financial resources

... ...

Videos

Latest News

Britain advises against all travel to China's Hubei province

Britain said on Saturday it was advising against all travel to Hubei province in China due to the outbreak of coronavirus.In new travel advice, the British Foreign and Commonwealth Office told people to leave Hubei province. The city of Wuh...

UPDATE 2-Boeing's 777X jetliner successfully completes maiden flight

Boeing Co successfully completed on Saturday the maiden flight of the worlds largest twin-engined jetliner as the embattled planemaker steps up competition with European rival Airbus in a respite from a crisis over its smaller 737 MAX. The ...

Florida man arrested for pointing lasers as planes landed

A man was arrested for pointing lasers at planes trying to land at a Florida airport and injuring a pilot in the process, authorities said. Charlie Chapman Jr. aimed his laser pointer toward a plane four times and toward a sheriffs helicop...

China says virus situation 'grave' as Lunar New Year curtailed

President Xi Jinping warned Saturday that China faced a grave situation as authorities raced to contain a virus that has killed 41 people and caused a drastic scale-back of Lunar New Year celebrations. The worlds most populous country, whic...

Give Feedback