DoT bats for telecom cos, asks SC to allow 20-year period to pay AGR dues

NEW DELHI : In what could be a glimmer of hope for embattled Vodafone Idea Ltd, the Department of Telecommunications on Monday asked the Supreme Court to allow telecom companies to pay adjusted gross revenue (AGR) related liabilities over 20 years instead of a one-time settlement.

The telecom department has requested the apex court to allow payment of dues in installments with an interest rate of 8% per annum.

A staggered payment mechanism would give Vodafone Idea a fighting chance to survive. The cash-strapped telecom firm has paid only ₹6,854, which accounts for the entire principal amount it had self-assessed as AGR dues.