In a related development, the telecom companies started disputing the DoT estimate of the due amount and indicated they will pay as per their 'self-assessment'.
The move also reflects President Donald Trump’s frustration that large economies like China and India are permitted to receive preferential trade benefits as developing nations at the World Trade Organization.
In its plea, Vodafone Idea said it was “facing a huge financial stress and is not in a position to make either up front payment of the amounts due or provide any financial bank guarantees to securitise the amounts due”.
Following the judgment, the DoT had written to GAIL and Power Grid, asking them to pay AGR fees of Rs 1.72 lakh crore and Rs 1.25 lakh crore, respectively. GAIL, Power Grid and other companies have denied that they owe any money to the DoT, and said they have paid all dues.
The income from the fund is utilised for programmes and activities relating to consumer education and protection. As things stand today, any excess charges revealed in the billing audit should be refunded to consumers.
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Senior DoT officials say it is unlikely to provide any relief.
The concept is similar to Operation Twist used by the Fed in 2011-2012 in an effort to cheapen long-term borrowing and spur bank lending. The Fed then swapped short-term Treasury securities for longer-term government debt, which reduced the gap between two- and 10-year yields.
The index scores 152 nations on their readiness for online shopping, worth an estimated USD 3.9 trillion globally in 2017, up 22 per cent from the previous year.
The Southeast Asian country is the world’s third-largest producer of the robusta variety used in espressos and instant drinks, and most is grown in the southern part of Sumatra island, the areas that have been hit by drought.
Earlier, on October 10, the agency had attached the entire plant of the company worth Rs 4,025 crore in Village Thelkoloi in Odisha’s Sambalpur.
The telcos, through separate petitions, sought a waiver of interest, penalty, and interest on the penalty.
Responding to a calling attention notice in Rajya Sabha last year on the “misuse of social media platforms and spreading of fake news”, the Ministry, in December last, released a draft of its intermediary guidelines amendments.
So far, the DRI had issued 14 LRs to multiple foreign jurisdictions, such as Singapore, Hong Kong, Switzerland, UAE among others, seeking information in the alleged over-valuation in Indonesian coal imports.
Most of the investment, or about $550 billion, will fund core needs revolving around sustainability, safety, health and convenience, while the other $250 billion is to provide increased amounts of food for the growing population.
Both countries expressed their commitment to global tax transparency for tackling offshore tax evasion.
Modi Enterprises Chairman and former president of FICCI Modi (79) breathed last on Saturday.
In the FIR, police said the actions of the accused allegedly led to bank losses totaling Rs 4,355.46 crore. The ongoing investigation has found that there were nearly 44 accounts at the bank that were password-protected.
Moody's said the cut in corporate tax is credit positive for companies because it will enable them to generate higher post-tax incomes. "However, it is credit negative for the sovereign, as it aggravates mounting risks for the government in meeting its fiscal deficit target."
From the 30-share Sensex basket, barring NTPC, all other 29 scrips were trading in the green led by Tata Steel, Maruti Suzuki India, HDFC Bank and Yes Bank, which were trading with gains of up to 5.7 per cent.