Cabinet freezes Rs 87,695 crore AGR dues of Vodafone Idea for 5 years
Vodafone Idea's AGR dues amounting to Rs 87,695 crore have been frozen as of December 31, according to reports.
Vodafone Idea's AGR dues amounting to Rs 87,695 crore have been frozen as of December 31, according to reports.
According to people in the know, during the meeting on Wednesday, Birla and Vaishnav discussed the health of the sector and the urgent need for government intervention.
The court also said that the National Company Law Tribunal (NCLT) should decide whether or not spectrum can be sold under the Insolvency and Bankruptcy Code.
While a conclusion was not arrived at, the SC also struck down the government's demand of seeking Rs 4 lakh crore from PSUs for telecom licences.
The Department of Telecommunications also sought the apex court's nod for a formula arrived at for recovery of dues from telecom companies after detailed deliberation by government and cabinet.
Mittal's remarks came after a meeting with telecom minister Ravi Shankar Prasad to give an overall view of the industry.
The Supreme Court had ordered the telecom companies to pay adjusted gross revenue (AGR) worth Rs 92,000 crore to the government.
