Bharti Airtel challenges telecom department's demand of Rs 1,400 crore

NEW DELHI: The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) heard on Thursday  Bharti Airtel's challenge against the Department of Telecoms' demand of about Rs 1,400 crore raised in terms of the Adjusted Gross Revenue ( AGR) Judgment dated September 1, 2020 passed by the Supreme Court.  This demand comes out from past dues payable by Videocon for the whole of the spectrum allocated to it, which in its entirety was subsequently transferred to Airtel in terms of Spectrum Trading Guidelines dated October 12, 2015.

Notwithstanding the Supreme Court's “Adjusted Gross Revenue” Judgment, the Appellate Tribunal in its orders dated September 16, 2021 stayed the demand and also directed telecom department not to take any coercive steps and restrained the invocation/encashment of bank guarantee. The matter has now been listed on November 16, 2021.

This finding came to be passed by the Supreme Court while considering the details of the spectrum transferred by Videocon to Airtel. The liability of Airtel in this regard has already been upheld by the Supreme Court.

Shares of Bharti Airtel on Thursday closed at Rs 715.75   down by Rs. 9.75 from its previous closing price of Rs. 725.50 on the National Stock Exchange.

Foreign portfolio investors net buyers in August; infuses Rs 16,459 crore

Gold in the national capital plunges Rs 491; silver plummets Rs 724

Stock market crosses 59,000 marks for the first time

 

- Sponsored Advert -

Most Popular

- Sponsored Advert -