The Supreme Court rejected the telecom companies' demand for recalculation of AGR

Airtel, Vodafone Idea must pay

We have already said that there will be no reassessment in AGR case: Supreme Court

New Delhi: Bharti Airtel and Vodafone Idea suffered a major setback on Friday. The apex court had rejected the plea of ​​telecom companies seeking recalculation of AGR (Adjusted Gross Revenue). The applicant telecom companies include Tata Teleservices. The telecom companies claimed in the application that the calculation of AGR was erroneous and therefore should be recalculated.

The apex court bench headed by Justice L Nageshwar Rao dismissed the petition. Shares of Vodafone Idea also saw a big drop after these reports. The apex court said the court had made it clear in its earlier judgment that there would be no reassessment in the AGR case.

It may be noted that the total AGR on telecom companies is Rs 1.47 lakh crore. Of this, Bharti Airtel has a debt of Rs 43,780 crore, while Vodafone Idea has a debt of Rs 58,000 crore. Vodafone and Airtel have paid some amount. When the outstanding amount is due.

Last year, the apex court gave Airtel, Vodafone and Idea 10 years to make AGR payments. Which started on April 1, 2021. Now the companies are arguing that the AGR should be recalculated as there was an error in the calculation. This demand was rejected by the Supreme Court so the companies will have to pay the money piecemeal as per the order.