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Bharti Airtel statement on SC dismissal of review petition in AGR case

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Bharti Airtel released the following statement after the Supreme Court dismissed the review petition in the AGR case -

''While respecting the Hon'ble Supreme Court's decision, we would like to express our disappointment as we believe the long standing disputes raised regarding the AGR definition were bonafide and genuine.

The industry continues to face severe financial stress and the outcome could further erode tf1e viability of the sector as a whole.

The industry needs to continue to invest in expanding networks, acquiring spectrum and introducing New Technologies like 5G. The money now required to pay punitive interest, penalty and interest on penalty which forms nearly 75% of AGR dues would have better served the digital mission of the country.

We are evaluating filing a curative petition. "

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 16 2020. 18:46 IST