Categories: Business

SC wants AGR dues of PSU waived off

Photo: FILE

AGR Dues case

new Delhi. The Supreme Court, while giving relief to the government companies, has asked the government to withdraw the demand for AGR dues. The Department of Telecommunications had demanded arrears of Rs 4 lakh crore from government companies on the basis of arrears on private companies. The Supreme Court clearly stated that the decision on their private companies has been misunderstood, such a demand on government companies cannot be accepted.

The bench of 3 judges has sought to know from the government why the dues have been demanded from government companies. The court warned that they will take strict steps if they do not withdraw the order issued by misinterpreting their decisions. The court asked why the demand for arrears from government companies was not made earlier. DoT has demanded 1.83 lakh crore from GAIL India, about 49 thousand crore rupees from Oil India, 22 thousand crore rupees from the power grid. With this, arrears have also been demanded from several other PSUs.

Along with this, the court has asked the private companies to file an affidavit and tell how they will pay their dues. The next hearing of the case will be held next week. On the other hand, the private companies have stated in the court that their economic condition is very bad and they are unable to pay the dues fixed by the government.

The court had in the last hearing reprimanded the telecom companies for assessing the arrears at their level. After the hearing, the court had asked these companies to pay back dues along with interest and fines. The court made it clear that the companies had to pay on the same basis as the judgment which was given on 24 October 2019 to assess the arrears. On this basis, the telecom companies have to pay Rs 1.6 lakh crore. The biggest part of this is that of Vodafone Idea, which has to pay more than 58 thousand crores. The company has paid about 7 thousand crores till now. Today the company said that it does not have money and if not relieved, it may have to stop functioning.

At the same time, Bharti Airtel owes about Rs 44 thousand crore, out of which the company has already given about Rs 18 thousand crore.

This post was published on June 12, 2020 3:20 am

Content Team

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