Reliance says no legal basis for payment; the next hearing in the matter has been adjourned till August 19
Seeks spectrum-sharing info from RCom, Aircel, Videocon
Spectrum is a government property, not private, and anyone using it is liable to pay the dues, the apex court said
All that happened in the markets today
In its last hearing, the SC had asked the Centre to prepare a plan for recovering AGR dues from bankrupt telecom operators
Representing RComm, SBI said that the amount payable under a resolution plan shall be paid on priority to operational creditors over financial creditors
Last date for submitting EoIs for Air India is August 31
Justice Arun Mishra said: "We want to go into the cause for initiation of insolvency against telcos under the IBC."
DoT told the top court that their stand is that the spectrum cannot be sold by the telecom companies facing insolvency proceedings as it not their property
Apex court observed that the government may be unable to recover dues from bankrupt firms; adjourns hearing to August 14
All that happened in the markets today
The company's future as a going concern, as it has admitted in its results for the June quarter of 2020-21, will be crucially dependent on the SC decision on repayment tenure
From auto firms planning new launches for festive season, Rajnath Singh banning import of defence items to telcos awaiting SC response of AGR dues, here are the top ness of the day
Both companies had sought 20 years time to make payment
Vodafone Idea's net worth has completely eroded and it faces Rs 58, 254 crore adjusted gross revenue liability
Discarding 2G is wrong, says CEO; company highlights five-point strategy to increase revenue and profit
The result indicated the impact of the Covid-19 pandemic and the lockdown, but its overall performance was weighed down by financial stress
The company said it has recognised additional charge of Rs 19,440.5 crore in June quarter towards AGR liabilities
Reliance Jio shares platform with Bharti Airtel to ring in 25 years of mobile telephony
Big business houses such as the Tatas, Anil Ambani, multinationals like Malaysian tycoon T Ananda Krishna of Maxis failed to create viable businesses