New Delhi: The Supreme Court on Monday turned down Vodafone’s proposal to deposit Rs 2500 crore today and Rs 1,000 crore by Friday in the case of payment of Adjusted Gross Income (AGR) arrears. Apart from this, the court did not relieve the company from taking any punitive action against it.
A bench of Justice Arun Mishra, Justice S Abdul Nazir and Justice MR Shah refused to accept the motion of advocate Mukul Rohatgi, appearing for Vodafone. Rohatgi had told the bench that the company is ready to pay Rs 2,500 crore on Monday from the statutory dues of AGR and Rs 1,000 crore by Friday but no punitive action should be taken against it.
He requested the bench not to encash Vodafone’s bank guarantee deposited with the government. Vodafone Idea has an estimated statutory dues of Rs 53,000 crore.
The apex court on Friday warned top executives of Vodafone Idea, Bharti Airtel and Tata Teleservices that contempt proceedings would be taken against them for not implementing the judicial order for payment of consolidated gross revenue (AGR) of Rs 1.47 lakh crore.