Bharti Airtel Review Petition in SC Rejected, Telco Thinking of Filing Curative Petition

The biggest trouble for the telecom sector at this point of time happens to be the Adjusted Gross Revenue (AGR) dues which the companies have to pay in the matter of a few days. The AGR dues deadline, as given by the Supreme Court is January 23, and the telecom companies are reluctant to pay these dues because of the extreme financial crunch which the telecom sector is facing right now. To seek some relief from the Supreme Court, both Vodafone Idea and Bharti Airtel had filed separate review petitions. But, it seems that the attempt of the telecom companies has gone in vain as the SC has rejected the review petition of the telecom companies. The AGR dues in total for the two telecom companies reach as high as Rs 90,000 crore, and for the telecom industry in total, they are north of Rs 1.47 lakh crore. To recall, the decision was passed by the Supreme Court on October 24, saying that the telecom operators have to pay the spectrum usage charges, license fees, interests, penalties and the interest on those penalties based on the new AGR definition before January 23, 2020.

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Bharti Airtel Thinking to File Curative Petition

This new move has not been taken well by the telecom companies, Bharti Airtel and Vodafone Idea. While there has been no major reply from Vodafone Idea, Bharti Airtel has said that it is ideating on filing a curative petition. “While respecting the Hon’ble 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. 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. The money now required to pay punitive interest, penalty and interest on the penalty, which forms nearly 75% of AGR dues would have better served the digital mission of the country. We are evaluating filing a curative petition.”