AGR case: Telcos’ plea rejection does not bode well for sector recovery, says ICRA

NEW DELHI: The rejection of telcos’ pleas seeking re-calculation of AGR related dues does not bode well for a recovery in the sector and is likely to protract the same given the backdrop of high debt levels and low tariffs, Icra said on Friday.

The Supreme Court has dismissed the applications filed by telecom majors, including Vodafone Idea and Bharti Airtel, seeking rectification of the alleged errors in the calculation of adjusted gross revenue (AGR) related dues payable by them.