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After SC rap, Bharti Airtel pays Rs 10,000 crore to DoT towards AGR dues

Bharti Airtel said it will make payment of the balance amount after self-assessment exercise.

By: Express Web Desk | New Delhi | Updated: February 17, 2020 12:46:43 pm
Q3 financial results, Q3 results, India Inc, India Inc companies, India Inc Q3 results, India Inc Q3 financial results, Business news, Indian Express Indian telecom operator Bharti Airtel paid Rs 10,000 crore to the DoT towards AGR dues. (Image source: Reuters)

Telecom giant Bharti Airtel on Monday said that it has paid Rs 10,000 crore to the Department of Telecom (DoT) towards part payment of the adjusted gross revenue (AGR) dues.

The latest development comes after the Supreme Court (SC) on Friday cracked a rap on the knuckles on the DoT for not taking necessary steps for recovering the statutory dues from the operators.

Bharti Airtel said it will make payment of the balance amount after self-assessment exercise. The telecom enterprise also said it will submit the supporting details at the time of making balance payment.

“We are in the process of completing the self assessment exercise expeditiously and will duly make the balance payment upon completion of the same, before the next date of hearing in the SC,” the telecom operator said.

On Friday, just hours after the SC took a strong note of non-compliance with its order, the DoT had ordered telecom firms — Bharti Airtel and Vodafone Idea to clear their dues before Friday midnight.

The DoT started issuing circle or zone-wise demand notices to firms, an order seen by news agency PTI said. Bharti Airtel in a letter had offered to pay Rs 10,000 crore by February 20 and the rest before the next date of hearing in the SC.

At 11:15 am, the shares of Bharti Airtel were trading at Rs 563.60 on the BSE, down 0.27 per cent from the previous close.

Separately, the SC today refused to accept Vodafone Idea’s proposal, in which the telecom firm proposed to pay Rs 2,500 crore by today, and Rs 1,000 crore by Friday and that no coercive action be taken against it.

(with inputs from PTI)

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