SC gives telcos 10 yrs to clear AGR dues, NCLT to decide on spectrum sale

The Supreme Court finished hearing the AGR case on August 24, almost a year after its verdict on the definition of the AGR

The Supreme Court in its judgment in the matter of adjusted gross revenue allowed telcos to pay their outstanding dues in 10 years. Telcos can pay 10 per cent of their dues by March 31, 2021, and the remaning instalments by 7 February every year.

Any default will accrue interest and non-payment will also invite contempt of court proceedings, said the SC in its verdict. The companies have been ordered to keep adjusting bank guarantees alive till the time the payment is made.

On the question of whether telcos could sell spectrum, the SC has left the question