AGR verdict last straw in contributing to telcos’ financial distress, says COAI

New Delhi: 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 ₹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. The immense financial pressure on the sector will also adversely impact ‘Digital India’ rollout,” Rajan S. Mathews, director general of COAI, said.