Vodafone Idea shares plunged over 17 per cent, while the stock price of Bharti Airtel surged over 4 per cent on Tuesday
The verdict soured sentiment at banking counters which were factoring-in at least 15 years timeline for the payment of AGR dues
Indian telecom sector moving to a virtual duopoly is not a desirable development
The Supreme Court has allowed telcos to pay their outstanding dues in 10 years.
The Supreme Court has allowed telecom companies to pay their adjusted gross revenue dues dues in 10 years.
The Supreme Court finished hearing the AGR case on August 24, almost a year after its verdict on the definition of the AGR
While the first two rulings on AGR dues could have a lasting impact on incumbent players, the third, on transfer of spectrum by banks could impact fund raising by the telecom sector as a whole
Apart from approving a relaxed payment schedule to pay the dues, SC verdict is also likely to seal the future of Vodafone Idea
Bharti Airtel's Sunil Mittal says that, to his mind, Average Revenue Per User or ARPUs need to hit Rs 300, or double Airtel's current figure, if the industry is to stabilize
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On the last day of hearing on Monday, the apex court reserves its judgment
Service tax demand can go up to Rs 20,000 crore
Such telcos should pick up AGR bill, says apex court
Justice Mishra observed under the IBC spectrum trading was different from spectrum sale
'Without paying for the horse, telecos are taking a ride,' says court about bankrupt companies.
Senior advocate Harish Salve, who represents RCom and its committee of creditors, said it will be forced to go into liquidation if spectrum sale not allowed
Jio tells court it has paid Rs 195 crore dues
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The lawyers representing the insolvent telecom companies have held that they never claimed spectrum as an asset
It said there is no question of one operator paying the Adjusted Gross Revenue (AGR) related dues of another firm, as suggested by the apex court earlier, and it has cleared all its dues