Supreme Court grants 10-year time to telecos to pay AGR-related dues to DoT
New Delhi: The Supreme Court on Tuesday granted 10-year time to telecom firms like Vodafone Idea, Bharti Airtel and Tata Teleservices for paying the Adjusted Gross Revenue (AGR)-related dues to the Department of Telecommunications (DoT) with certain conditions.
The apex court said telecos should pay 10 per cent of the AGR-related dues by March 31, 2021.
A bench headed by Justice Arun Mishra held that the demand made by the DoT and the verdict delivered by the top court in the matter are final.
The bench asked the Managing Director (MDs) or Chief Executive Officer (CEOs) of telecos concerned to furnish undertaking or personal guarantee within four weeks for payment of dues.
It cautioned the telecom firms and said that failure to pay installments of AGR-related dues would incur penalty, interest and contempt of court.
The top court said that issue of sale of spectrum by telecos facing insolvency proceedings shall be decided by the National Company Law Tribunal (NCLT).
The bench delivered its verdict on the issues, including the timeline for staggered payment of AGR-related dues amounting to about Rs 1.6 lakh crore.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Rickelton's ton in vain as SRH beat MI by 6 wickets
Mumbai (PTI): Ryan Rickelton's whirlwind unbeaten ton was overshadowed by Heinrich Klaasen's unbeaten 65 as Sunrisers Hyderabad defeated Mumbai Indians by six wickets in an IPL match here on Wednesday.
Chasing an imposing 244-run target, Travis Head (76 off 30) and Abhishek Sharma (45 off 24) shared 129 runs for the opening wicket to set the platform for SRH.
Klaasen (65 not out off 30 balls) then displayed his all-round hitting abilities to guide SRH home with the help of Nitish Kumar Reddy (21) and Salil Arora (30 not out off 10) in 18.4 overs.
Earlier, Rickelton's knock powered MI to 243 for five.
MI rode on a 93-run stand between Rickelton (123 not out off 55 balls) and Will Jacks (46 off 22) in 7.1 overs for the opening stand to power the side.
MI skipper Hardik Pandya scored a valuable 31 off 15 balls before being dismissed.
Praful Hinge (2/54), Eshan Malinga (1/29), Sakib Hasan (1/39) and Nitish Kumar Reddy (1/31) were the wicket-takers for SRH.
Brief Scores:
Mumbai Indian: 243 for 5 in 20 overs (Ryan Rickelton 123 not out; Praful Hinge 2/54).
Sunrisers Hyderabad: 249 for 4 in 18.4 overs (Travis Head 76, Heinrich Klaasen 65 not out; AM Ghazanfar 2/51).
