AGR dues: Centre moves SC for approval of formula to provide breather to telcos in payment

The Centre moved the Supreme Court on Monday seeking approval of its formula to allow telecom companies to pay their Adjusted Gross Revenue (AGR) dues in annual instalments for over 20 years to avoid impact on the economy.

A bench of Justices Arun Mishra and M R Shah directed that the Centre’s application be listed before the same bench which had given the October 24, 2019 verdict for payment of AGR dues, amounting to Rs 1.47 lakh crore, owed by telecom companies.