The Supreme Court docket dismissed the petition of Bharti Airtel and Vodafone on AGR Dues, know what’s left now – INA NEWS

The Supreme Court docket has rejected the evaluation petition of Vodafone Concept and Bharti Airtel. Each telecom corporations filed a evaluation petition to right disturbances within the calculation of the excellent quantity of adjustable gross income (AGR). Nevertheless, the nation’s largest courtroom rejected the petition and restored the courtroom’s 2021 determination. Now there isn’t any different authorized possibility for each corporations. Now they will get reduction solely from the intervention of the federal government. On February 14, Vodone Concept shares slip over 5 per cent, whereas Bharti Airtel shares closed down with a slight rise.

Vodafone Concept and Bharti Airtel argued for a multitude in calculus

A 3 -judge bench headed by Chief Justice Sanjeev Khanna mentioned that there isn’t any must evaluation the July 23, 2021 determination. The bench additionally mentioned that if there’s a pending petition with this, it can even be accepted. Bharti Airtel and Vodafone Concept had mentioned that the Division of Telecommunications (DOT) has made an enormous mess within the calculation of AGR Dues. The sooner cost in calculation can be not considered. Other than this, non-core income has additionally been added to calculus.

25000 crores improper burden attributable to calculation disturbances

Vodafone Concept additionally mentioned in its petition {that a} disturbance within the calculation of AGR Dues has led to an inappropriate monetary burden of about Rs 25,000 crore. However, after the Supreme Court docket’s petition is dismissed, there isn’t any authorized means left for Vodafone Concept. Vodafone Concept mentioned in a press release that every one the problems associated to AGR have been closed after the petition was dismissed. The corporate had filed a number of purposes, evaluation petitions and healing petition on this regard.

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The eyes of each corporations are actually on the federal government

Bharti Airtel has additionally informed the inventory exchanges that the Supreme Court docket’s order of January 28, 2025 has been uploaded on February 13, 2025. Overview petals have been rejected on this. The order of 2021 is taken into account right. Now, after the authorized route is over, each the telecom corporations are actually wanting on the authorities with hopeful eyes. It has been mentioned within the studies that the federal government is contemplating waiving one hundred pc penalty and 50 % curiosity on AGR Dues. If this proposal is accredited, then the monetary burden of about Rs 1 lakh crore on each telecom corporations might be decreased.