[ By Bobby Anthony ]Airtel and Vodafone Idea have announced that they may file curative petitions, after the Supreme Court rejected their pleas to review its adjusted gross revenue (AGR) ruling of October 24, 2019, under which they have to pay nearly Rs 1.02 lakh crore to the government by January 23, 2020.“The company is exploring further options, including filing of a...
Airtel and Vodafone Idea have announced that they may file curative petitions, after the Supreme Court rejected their pleas to review its adjusted gross revenue (AGR) ruling of October 24, 2019, under which they have to pay nearly Rs 1.02 lakh crore to the government by January 23, 2020.
“The company is exploring further options, including filing of a curative petition,”according to Vodafone’s statement, even as Airtel stated that it might file a curative petition against the Supreme Court’s AGR order.
However, Tata Teleservices, which had also filed the review petition didn't comment about its future course of action.
The Cellular Operators Association of India (COAI), the industry association, termed the dismissal of petitions as the last straw on the back of a sector which is reeling under financial stress.
“While we respect the Supreme Court's order dismissing the review petition on AGR order, the telecom sector is deeply disappointed,” COAI Director General Rajan Mathews stated.
The setback is severe, particularly for Vodafone India and Bharti Airtel, which were seeking a waiver of penalties and interest.
Earlier, Vodafone India Chairman Kumar Mangalam Birla has been quoted as saying that the company may have to stop operations if it doesn't receive any relief from the government.
VIL and Airtel have to pay Rs 53,039 crore and Rs 35,586 crore, respectively.
Tata Teleservices, which sold its consumer mobility business to Airtel but the deal is yet to get the Department of Telecom's (DoT) nod, also faces Rs 13,823 crore in dues.