Vodafone Idea has filed a review petition in Supreme Court on the AGR verdict. The telco has called for the correction of "arithmetic errors" in the computation of AGR dues, sources told CNBC TV18.
VI has sought a review of the judgment delivered by the apex court on July 23. The Supreme Court had rejected petitions by telecom companies, including Vodafone Idea and Bharti Airtel, for rectification of alleged errors in the calculation of adjusted gross revenue (AGR) related dues payable by them.
The company lawyers had told the apex court that the firm is making a loss and can "go under" if the rectification is not allowed.
The plea is likely to be heard by the same SC bench headed by Justice LN Rao.
Meanwhile, amid an existential crisis facing the firm over Rs 50,000 crore unpaid dues towards the government, billionaire Kumar Mangalam Birla recently stepped down as chairman of Vodafone Idea Ltd, within two months of offering to hand over the Aditya Birla Group's stake in the debt-laden telco to the government.
Vodafone Idea (VIL) had an AGR liability of Rs 58,254 crore, of which it has paid Rs 7,854.3 crore and Rs 50,399.6 crore is outstanding. VIL's gross debt, excluding lease liabilities, stood at Rs 1,80,310 crore as of March 31, 2021.
The amount included deferred spectrum payment obligations of Rs 96,270 crore and a debt of Rs 23,080 crore from banks and financial institutions, apart from the AGR liability.
Source Link
Social media is bold.
Social media is young.
Social media raises questions.
Social media is not satisfied with an answer.
Social media looks at the big picture.
Social media is interested in every detail.
social media is curious.
Social media is free.
Social media is irreplaceable.
But never irrelevant.
Social media is you.
(With input from news agency language)
If you like this story, share it with a friend!
We are a non-profit organization. Help us financially to keep our journalism free from government and corporate pressure
0 Comments