'Will discuss internally if any issues arise out of it': RBI governor on Supreme Court's order on AGR case

PTI New Delhi, India Feb 15, 2020, 02.02 PM(IST)

Image for representation. Photograph:( Reuters )

Story highlights

On Friday, the Supreme Court threatened contempt proceedings against top executives of Bharti Airtel, Vodafone Idea and other telecom firms for failing to comply with its directive to pay an estimated Rs 1.47 lakh crore in past dues.

RBI Governor Shaktikanta Das said that RBI will have internal discussions in case there are any issues arising out of the Supreme Court's order regarding Adjusted Gross Revenue (AGR) dues.

In a judgement on Friday, the apex court had threatened contempt proceedings against Bharti Airtel, Vodafone Idea and other telecom firms for failing to comply with its order to pay an estimated Rs 1.47 lakh crore in past dues.

Also read: DoT asks telcos to clear dues by midnight, withdraws 'no coercive action against defaulters' 

Das did not offer any specific comments about the order, which might have ramifications on banks in terms of their exposure to the financially-stressed telecom companies.

When asked about the order, Das said it would be internally deliberated upon, if at all there are issues arising out of it.

On Friday, State Bank of India (SBI) Chairman Rajnish Kumar said it was incumbent on telecom companies to find money and that it would be safe to presume that they would have made some arrangements for it by now.

Also read: Telecom operators to pay Rs 92,000 crore as dues to telecom department, SC rejects review plea 

His remarks came hours after the apex court order on the AGR dues matter.

On January 16, the Supreme Court of India had dismissed review petitions filed by Bharti Airtel, Vodafone Idea and Reliance Communications (RCom) challenging its judgement in the Adjusted Gross Revenue (AGR) case.