Bharti Airtel and Vodafone Idea have filed curative petitions challenging a Supreme Court order mandating the payment of AGR dues over a 10-year period. The telecom companies argue that the dues, which amount to over ₹1 trillion, have been calculated incorrectly, leading to excessive financial demands. The outcome of the Supreme Court's review of these petitions will significantly impact the financial stability of these telecom operators, as AGR is a critical metric that determines their profitability.
Vodafone Idea and Bharti Airtel Challenge Supreme Court AGR Ruling with Curative Petitions
Background:
The Adjusted Gross Revenue (AGR) controversy has been a major issue in the Indian telecom industry for several years. The dispute arises from the definition of AGR, which is used to calculate the revenue on which telecom operators pay license fees and spectrum usage charges.
In October 2019, the Supreme Court ruled that AGR should include non-core revenues such as dividend income and sale of assets. This ruling resulted in a significant increase in the AGR dues owed by telecom operators, totaling over ₹1 trillion.
Current Developments:
Bharti Airtel and Vodafone Idea have filed curative petitions with the Supreme Court, challenging the AGR order. The telecom companies argue that the dues have been calculated incorrectly and that the financial burden is excessive.
Impact on Telecom Operators:
The outcome of the Supreme Court's review of these petitions will have a significant impact on the financial stability of Bharti Airtel and Vodafone Idea. AGR is a critical metric that determines their profitability, and the current dues have placed them under severe financial stress.
Frequently Asked Questions (FAQs):
What is AGR? AGR stands for Adjusted Gross Revenue and is a measure of the revenue earned by telecom operators from services provided to customers.
Why is AGR important? AGR is used to calculate the license fees and spectrum usage charges that telecom operators pay to the government.
What was the Supreme Court's ruling on AGR in 2019? The Supreme Court ruled that AGR should include non-core revenues, resulting in a significant increase in the dues owed by telecom operators.
What are the arguments of Bharti Airtel and Vodafone Idea in their curative petitions? The telecom companies argue that the AGR dues have been calculated incorrectly and are excessive.
What is the significance of curative petitions? Curative petitions are the last legal recourse for parties who have exhausted all other avenues of appeal. They are rarely granted, but if they are, they can overturn a Supreme Court judgment.
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