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Supreme Court asks telcos to submit financials for 10 years

The apex court asked the government to consider the payment proposals submitted by the telecom companies and file a reply on the same.

Published: 19th June 2020 10:34 AM  |   Last Updated: 19th June 2020 10:34 AM   |  A+A-

Supreme Court

The Supreme Court of India (File photo | PTI)

By Express News Service

NEW DELHI: The Supreme Court Thursday directed telecom companies to furnish financial statements and books of accounts of last ten years to ascertain the firms’ capability to clear adjusted gross revenue (AGR) related dues to the government. A bench headed by Justice Arun Mishra directed operators to furnish details on revenue earned by them and taxes paid in the last 10 years and give details on the security and guarantees to ensure they will abide by a payment plan.

Solicitor general Tushar Mehta told the bench that the telecom companies have filed their affidavit with respect to the roadmap with timelines and guarantee for payment of AGR-related dues to the government and sought some time for the Department of Telecommunication (DoT) to file its response.

Senior Advocate Mukul Rohtagi, representing Vodafone, pointed out “Vodafone’s position is
precarious. The company is not in a position to give any more guarantees”and payment in instalments is the only option for the company to clear its dues. “No bank will give me guarantee today,” he added.
The apex court asked the government to consider the payment proposals submitted by the telecom companies and file a reply on the same.



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