AGR case: SC asks government if Jio should bear RCom AGR dues

The Supreme Court asked the government to clarify its stand if Reliance Jio should bear the adjusted gross revenue (AGR) liabilities of Reliance Communications (RCom) for using its spectrum.
The three-judge bench also asked
RCom to explain the fall in the value of its assets, even as the government stressed that airwaves of all telcos, including that of bankrupt companies like RCom, belong to the government.
RCom’s drop in valuation was one of the moot points on Monday’s adjusted gross revenue (AGR) hearing as the apex court wanted to know details of the resolution plan for the bankrupt telco and its units.
Senior advocate Shyam Divan told the court that Rcom and its units -Reliance Telecom and Reliance Infratel’s value eroded from Rs 35,000 crore in 2019 to Rs 5,304 crore as on date of liquidation with a fair value approx. Rs 10000 crore.