Supreme Court orders payment of AGR dues over a period of 10 years

The Supreme Court granted 10 years to telecom firms such as Vodafone Idea, Bharti Airtel and Tata Teleservices for paying the Adjusted Gross Revenue (AGR)-related dues to the Department of Telecommunications (DoT) with certain conditions.
The apex court asked telcos to pay 10 per cent of the AGR-related dues by March 31, 2021.
A bench headed by Justice Arun Mishra held that the demand made by the DoT and the verdict delivered by the top court in the matter are final.
The bench asked the Managing Directors (MDs) or Chief Executive Officer (CEOs) of the telcos concerned to furnish undertaking or personal guarantee within four weeks for payment of dues.
Failure to pay the instalments of the dues would incur penalty, interest and contempt of court, the bench cautioned the telecom firms.
The top court said that issue of sale of spectrum by telcos facing insolvency proceedings shall be decided by the National Company Law Tribunal (NCLT).