AGR verdict last straw in contributing to industry’s distress: COAI

Industry body COAI on Thursday expressed deep disappointment over SC ruling on telecom revenue definition, and termed it the last straw in contributing to the sector’s financial distress.

The Cellular Operators’ Association of India (COAI) said in a statement that it remains to be seen whether the industry — which is reeling under a daunting debt of about Rs 4 lakh crore and is in dire financial straits — will be able to recover from this setback.

“The Supreme Court’s judgment is the last straw in contributing to financial distress and it remains to be seen whether the industry will be able to recover from this setback.