Videocon’s AGR dues: SC stops DoT from encashing Bharti Airtel’s bank guarantees

The Supreme Court on Monday directed the department of telecommunications (DoT) not to invoke Bharti Airtel’s bank guarantees worth Rs 1,376 crore to recover adjusted gross revenue (AGR) dues of Videocon Telecommunications, which had earlier sold its entire spectrum to the former.

The apex court provided this relief to Bharti for a period of three weeks during which the telecom operator can appeal in the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) against the demand notice issued by the DoT.