AGR dues: Bharti Group to deposit ₹10,000 crore with DoT by February 20
Will pay balance dues by next date of hearing, says telecom majorby Our Bureau
The Bharti Group will deposit ₹10,000 crore with the Department of Telecommunications (DoT) by February 20, in compliance with the Supreme Court directive, while the balance dues will be paid before the next date of hearing.
This follows the apex court’s ruling on Friday rejecting a plea by incumbent telecom operators seeking more time to settle their adjusted gross revenue (AGR) dues. The court directed the telecom companies to pay a “sizeable” amount of their statutory dues today.
The Bharti Group, which has a liability of ₹35,600 crore, will deposit the sum on behalf of Bharti Airtel, Bharti Hexacom and Telenor India. “In compliance with the judgment of the Supreme Court and their direction, we shall deposit a sum of ₹10,000 crore by February 20, on behalf of Bharti Group companies,” it informed the finance wing of DoT.
“As directed by you, we are in the process of completing the self-assessment exercise. You will appreciate that this is a complicated process covering 22 circles, multiple licences and substantial period of time, and hence, is time consuming.” it added.
The group further said it is confident of completing the self-assessment “shortly”, and will make the balance payment before the next date of Supreme Court hearing.
DoT, in its letter dated November 13, 2019, following the Supreme Court order of October 24, 2019, had asked the operators to undertake a self-assessment and pay their AGR dues.