Unsecured AGR Dues

The apex court gave its verdict way back on October 24, 2019 on adjusted gross revenue (AGR) payable by the telecom companies to the department of telecommunications (DoT). The license conditions mandate that all the dues payable to DoT by telecom operators must be secured through financial bank guarantees (FBGs). In its September 1, 2020 order, the top court also said that the arrears have to be securitized through operative bank guarantees to protect DoT against default.