Telecoms get 10 years to repay AGR dues: 10 things to know about the case

The Supreme Court on Tuesday gave telecom firms 10 years to pay back dues amounting to about Rs 1.6 lakh crore of their adjusted gross revenue (AGR) they owe to the government by 2031.

The telecom firms will have to pay 10% of dues by 2021 due to Covid-19 and the rest can be paid in installments by March 31, 2031, a bench headed by justice Arun Mishra ruled. However, if a company fails to repay instalments, it will be punishable for contempt of court, it said.

It also asked the National Company Law Tribunal (NCLT) to decide whether spectrum can be a subject matter of resolution process on the point as to whether spectrum can be sold by the telecom companies facing proceedings under the Insolvency and Bankruptcy Code (IBC).