Supreme Court Rejects Telecom Giants' Plea for AGR Dues Waiver
The Supreme Court dismissed pleas from telecom giants Vodafone, Airtel, and Tata Teleservices seeking a waiver of adjusted gross revenue (AGR) dues. The bench criticized the petitions as 'misconceived' and expressed unwillingness to interfere with governmental assistance to the companies. Vodafone sought a waiver of approximately Rs 30,000 crore, citing financial duress.
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- India
In a significant ruling, the Supreme Court on Monday turned down requests from telecom giants Vodafone, Airtel, and Tata Teleservices for a waiver of their hefty adjusted gross revenue (AGR) dues.
The bench, comprising Justices J B Pardiwala and R Mahadevan, sharply criticized the petitions, calling them 'misconceived' and expressed alarm at their presentation, noting it was unexpected from multinational companies.
Vodafone, which sought a waiver of about Rs 30,000 crore, faces severe financial challenges if compelled to pay AGR dues over the next six years, the court heard. Despite government intervention, the court refused appeals to dismiss previous judgments or alter the payment schedule established in the 2020 order.
(With inputs from agencies.)
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SC junks pleas by Vodafone, Airtel, Tata Teleservices for AGR dues waiver.
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