New Delhi: In the hearing on AGR dues case, the Supreme Court today deferred the case for next hearing in July third week. Meanwhile has asked telcos to furnish last 10 years audited balance sheet as also the payment proposal for considering staggered payment of AGR dues.
Also, the Supreme Court noted that as the PSUs are not in telco business, the department of telecom has done away with 96% of the demand claims of more than Rs. 4 trillion made against PSUs.
The direction comes as the telcos sought 20 year timeline to clear AGR dues without any personal or bank guarantees.
Also, the honorable court observed that during the period of the lockdown the telecom industry was the only one doing business and there should be a consideration or provision for down payment for allowing staggered payment.
Meanwhile, during the hearing Vodafone’s Counsel made a point that the company is not in a position to serve any guarantee as it is not making profits for past several quarters. So, the court asked the company of its assets. In an earlier instance the company said that spectrum and licenses would be the best security against the dues payable by the company.
