Top 10 biz headlines: Rs 1.3-tn blow to telcos, Infosys' woes mount, & more

The Supreme Court on Thursday dismissed a plea moved by telcos challenging the definition of adjusted gross revenue. The verdict allows the government to recover Rs 92,000 crore.

Blow to telecom service providers as SC rejects plea over AGR definition

Ending a legal tussle that lasted for more than a decade between the Union government and telecom service providers, the Supreme Court (SC) on Thursday dismissed a plea moved by firms challenging the definition of adjusted gross revenue (AGR). The verdict allows the government to recover Rs 92,000 crore of AGR from the already financially stressed telecom industry that includes many operators who’ve already gone out of business or are under insolvency proceedings. Read more

DHFL lenders consider liquidating firm's assets to recover their dues