Airtel deposits another Rs 8,000 crore towards AGR dues in compliance with SC order

ANI New Delhi, Delhi, India Feb 29, 2020, 02.16 PM(IST)

Bharti Airtel Photograph:( Reuters )

Story highlights

"The company has paid an additional amount of Rs 3,004 crore towards the full and final amounts due over and above the ad-hoc amount of Rs 10,000 crore paid on Feb 17, 2020, on behalf of the Bharti Group of Companies," said an official statement on Saturday.

Telecom major Bharti Airtel on Saturday said that it has deposited an additional Rs 8,004 crore towards adjusted gross revenue (AGR) dues to the Department of Telecommunication (DoT), aggregating to a total payment of Rs 18,004 crore, and therefore complying with the Supreme Court judgment in the matter.

"The company has paid an additional amount of Rs 3,004 crore towards the full and final amounts due over and above the ad-hoc amount of Rs 10,000 crore paid on Feb 17, 2020, on behalf of the Bharti Group of Companies," said an official statement on Saturday.

Also read: Bharti Airtel can pay $5 billion AGR, won't affect credit quality, says Moody's

"In addition to the aforesaid amounts paid on the basis our self-assessment, we have also deposited an additional amount of Rs 5,000 crore as an ad-hoc payment (subject to subsequent refund/adjustment) to cover differences, if any, arising from the reconciliation exercise with the DoT," it added.

The telco said that in line with the AGR judgment and various directions issued by the DoT with respect to Spectrum Usage Charges, the company carried out self-assessment from FY 2006-07 onwards up to December 31, 2019, and interest thereon up to February 29, 2020.Airtel said that the company has now complied with the Supreme Court judgement dated October 24, 2019, which directed telecommunication companies to deposit the AGR dues summing up to Rs 1.47 lakh crore to the government within a period of three months.

Also see: Airtel pays statutory dues worth ₹10,000 crore after Supreme Court's stern orders