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Reliance Jio meets SC deadline for AGR dues payment, Pays Rs195 crore
Mukesh Ambani-led Reliance Jio on Thursday paid Rs195 crore to the department of telecom (DoT) to clear all Adjusted Gross Revenue (AGR) dues accounted till January 31, 2020.
Mukesh Ambani-led Reliance Jio on Thursday paid Rs195 crore to the department of telecom (DoT) to clear all Adjusted Gross Revenue (AGR) dues accounted till January 31, 2020. With this, Jio becomes the first and only telecom company to clear dues and meet the Supreme Court's deadline of January 23, 2020.
The company has made a provision of Rs177 crore to pay for the government revenue share based on the Supreme Court judgement dated October 24, 2019. However, rivals of Reliance Jio, Vodafone Idea and Bharti Airtel have sought more time from the department of telecom for the payment of the dues. The two companies have a cumulative liability of Rs88,624 crore.
Supreme Court's Verdict
Supreme Court in its judgement dated October 24, 2019, widened the definition of adjusted gross revenue (AGR) and asked telecom companies, like Bharti Airtel, Vodafone Idea, to pay the AGR dues by to pay Rs1.47 lakh crore in statutory dues by January 23.
Dues of the two telecoms
Bharti Airtel: Total liabilities nearly Rs35,586 crore of which Rs21,682 crore is licence fee and Rs13,904 crore is SUC dues but it doesn't include the dues of Telenor and Tata Teleservices.
Vodafone Idea: Total liabilities Rs53,038 crore of which Rs28,309 crore in licence fee and Rs24,729 crore of SUC dues.
Later on January 16, 2020, a three-judge bench of the Supreme Court headed by Justice Arun Mishra had dismissed review petitions of telecom firms seeking review of its October 24, 2019. After which these companies approached the apex court on January 20, 2020, with modification applications seeking an extension of January 23 deadline for payment of the dues to which the court agreed to list their pleases for next week but with the same bench.
Both Airtel and Vodafone have requested the government to give them time to make payment based on the outcome of their modification petition listed for hearing before the Supreme Court next week. The DoT will not take any coercive action against telecom operators for non-payment of AGR dues until further court orders.
