Bharti Airtel Pays Rs 10,000 Crore to Telecom Department As Part of AGR Dues
On Friday, the Apex Court criticised telecom operators for non-compliance of its order asking them to pay dues worth thousands of crores to the government. The top Court summoned their bosses to explain why the pay up order was not followed.
New Delhi, February 17: Airtel Bharti Limited paid Rs 10,000 crores to the Telecom Department towards AGR (adjusted gross revenue) dues on Monday. In a regulatory statement, the telecom operator said, "..We shave duly paid an amount of Rs 9500 crore on behalf of Bharti Airtel ( including in respect to Telenor India which was merged with Bharti Airtel ) and an amount of Rs 500 crore on behalf of Bharti Hexacomm...”.
The stock was trading at Rs 563.70, down 0.23 percent at 11:23 am on Monday. Last Friday, the Department of Telecommunications issued orders to telecom companies asking firms such as Bharti Airtel and Vodafone Idea to clear their dues immediately. AGR Case: Supreme Court Summons Telecom Bosses Over Non-Payment of Dues.
Check ANI tweet:
On Friday, the Apex Court criticised telecom operators for non-compliance of its order asking them to pay their dues worth thousands of crores to the government. The top Court summoned their bosses to explain why the pay up order was not followed. The three companies Vodafone Idea, Airtel and Tata Teleservices are jointly liable to pay dues of over Rs 1 lakh crore, but they informed the Department of Telecom of making an only partial payment, as per their representatives.
(The above story first appeared on LatestLY on Feb 17, 2020 11:32 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).