InvestorQ : With telecom companies like Vodafone and Bharti missing the deadline for AGR dues, what could be the outcome now?
Dhwani Mehta made post

With telecom companies like Vodafone and Bharti missing the deadline for AGR dues, what could be the outcome now?

Answer
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Khushi Patel answered.
8 months ago


The good news for the telecom companies is that the DOT has confirmed that no coercive action will be taken against the telcos for missing the deadline since the time was too short at this juncture. However, the DOT does expect a clear plan of action from the telcos. The Supreme Court dictated due date for the payment was 23rd January 2020. Reliance Jio, the least affected by the court order, has paid dues worth Rs.195 crore for all licences as of 31 January, which was hardly an issue considering the amount involved. Both Vodafone Idea and Bharti Airtel requested the government to wait till next week for payment of dues.

Vodafone Idea is the worst hit by the order on telecom dues and it has chosen to await the hearing of its modification plea seeking easier payment terms to clear its AGR dues. The

Supreme Court agreed to hear the modification plea filed by Vodafone but did not comment on the original payment deadline. The 24 October court order on the 14-year legal battle between telcos and the DOT asked India’s top wireless carriers to cough up Rs.1 trillion in dues.