DoT strikes SC in search of Videocon’s Rs 1,376-cr dues from Bharti Airtel

Tata group and Reliance Jio Infocomm have paid Rs 4,197.37 crore (towards whole dues of Rs 16,798 crore) and Rs 195.18 crore (whole demand of Rs 70.53 crore), respectively, the DoT stated.

The Division of Telecom on Thursday moved the Supreme Courtroom in search of to get better Videocon Telecommunications’ adjusted gross income (AGR) dues of Rs 1,376 crore from Bharti Airtel.

The DoT instructed the apex court docket that it had raised the demand as per the SC’s September 1 judgment. DoT had raised the demand to Bharti Airtel to pay AGR dues of Videocon, which had traded its total spectrum (30 MHz in 1800 MHz band) to Airtel in 2016. Whereas the DoT had requested Airtel to adjust to the SC instructions, the teleco had questioned the DoT’s demand. Airtel had responded vide letters of October 16, 2020 and March 4, 2020 saying that “the DoT letter has no foundation in legislation” and “Airtel can’t be held responsible for Videocon’s previous dues”, the division stated in its affidavit to the apex court docket.

With regard to buying and selling of spectrum, DoT submitted that the letter approving the buying and selling clearly says that the licensor reserves the proper to get better the dues which weren’t recognized to the events on the time of the efficient date of commerce from the customer or vendor, collectively or severally on the discretion as per the buying and selling tips of 2015.

The telecom service suppliers which are sharing the spectrum are required to pay AGR based mostly dues after contemplating the extra spectrum fee in addition to further income generated from the usage of that shared spectrum, the affidavit filed by means of Amit Katoch, deputy director normal (LFP), DoT, acknowledged.

The division additionally knowledgeable the SC that it has been in a position to get better AGR dues of solely Rs 30,289.59 crore towards the full demand of Rs 1,69,048.65 crore. Whereas the Bharti Airtel group had to date paid Rs 18,004 crore towards whole dues of Rs 43,980 crore, Vodafone has paid Rs 7,854.37 crore towards Rs 58,254 crore demand raised by the division. Nevertheless, Bharti’s personal estimate of AGR dues is Rs 13,004 crore and Vodafone’s firm’s personal evaluation to date is of Rs 21,533 crore.

Tata group and Reliance Jio Infocomm have paid Rs 4,197.37 crore (towards whole dues of Rs 16,798 crore) and Rs 195.18 crore (whole demand of Rs 70.53 crore), respectively, the DoT stated.

In the meantime, the SC is but to take a name on listening to the functions filed by Airtel, Vodafone Concept and others in search of modification of its order in order that the DoT can think about its submissions relating to arithmetical errors within the calculations relating to its AGR dues. The businesses have stated that the calculations made by DoT had errors like double counting, not contemplating funds already made, not adjusting for interconnect funds and many others.

Vodafone has made it clear that it was not in search of any reassessment of the calculations, one thing which the SC order has barred, or elevating any dispute, however solely in search of correction in these arithmetical errors.

Get reside Inventory Costs from BSE, NSE, US Market and newest NAV, portfolio of Mutual Funds, Try newest IPO Information, Greatest Performing IPOs, calculate your tax by Revenue Tax Calculator, know market’s Prime Gainers, Prime Losers & Greatest Fairness Funds. Like us on Fb and comply with us on Twitter.

Monetary Specific is now on Telegram. Click on right here to affix our channel and keep up to date with the most recent Biz information and updates.

Supply hyperlink

Leave a Reply

Your email address will not be published.