New Delhi: In the AGR case, the top court on Thursday has ordered telecom companies to submit their 10-year financial statement. The Supreme Court directed the Central Government to consider and respond to the proposal of companies regarding AGR payment. After this, the top court postponed the next hearing for the third week of July.
During the hearing, the central government has told the court that the order demanding AGR from non-telecom PSU (PSU) has been withdrawn. Its amount is Rs 3.7 lakh crore. In the last hearing, the top court reprimanded the government for recovery from PSU. The central government, after considering the proposal of private telecom companies from the apex court, demanded more time to respond. Airtel said that out of 21,000 crores, 18,000 crore have been paid. Vodafone and Idea said that they are not in a condition to provide security for the remaining amount. The government has already been given a bank guarantee of Rs 15,000 crore, the same should be considered as a security.
During the hearing, an interesting dialogue was seen in the exchange. Judge Arun Mishra asked Vodafone's lawyer- You (Telecom sector) are not the only players. To this, Vodafone lawyer Rohatgi replied that the court is the biggest player. Then the judge said - no, we are the referees. The telecom sector has made a profit. Deposit some money of AGR liability with the government.
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