AGR dues: Telecom department seeks Supreme Court nod for 20-year window for payment In a relief for telecom operators, the Department of Telecommunications (DoT) on Monday moved the Supreme Court seeking an approval for a 20-year window for payment of around Rs 1.47 lakh crore Adjusted Gross Revenue (AGR) dues. ETTelecom Updated: March 16, 2020, 22:05 IST

New Delhi: India's telecom department (DoT) on Monday moved the Supreme Court seeking an approval for a 20-year window for payment of around Rs 1.47 lakh crore Adjusted Gross Revenue (AGR) dues. The move could bring some respite to telcos, especially Vodafone Idea, which is staring at a collapse.

The Supreme Court is likely to hear the matter on adjusted gross revenues.

The DoT's latest plea cited the adverse impact of the massive pending payments on both the telecom and banking sectors. It has also requested the SC to modify its AGR judgement and subsequent orders, according to media reports.

The telecom department said that the interest on the principal and penalty not be charged beyond judgment date, while dues payable to the government be protected by levy of 8% interest on staggered payments.

Vodafone Idea earlier today said that it cleared the principal amount towards AGR dues as it paid Rs 3,354 crore to the Department of Telecommunications (DoT).

"The Company had earlier paid a sum of Rs.2,500 crores on 17 February 2020 and a further sum of Rs.1,000 crores on 20 February 2020 towards this liability. The Company has today paid a further amount of Rs. 3,354 crores to the DoT, being the balance part of the principal amount towards AGR liability," the company said in its BSE filing.

Vodafone Idea had filed its self-assessment of the AGR liabilities with the Department of Telecommunications on 6 March, 2020, in which AGR liability principal amount of Rs.6,854 crores was determined for the period from FY 2006-07 to FY 2018-19.

According to the Vodafone Idea's own assessment, its AGR dues amount to Rs 21,533 crore, if which the principal amount has been pegged at Rs 6,854 crore. The DoT's estimate though is for overall dues at Rs 53,000 crore.

The telecom department has also initiated the process to settle AGR dues using the Rs 25,701 crore payment it received from telcos Vodafone Idea, Airtel and Tata group following the Supreme Court order on AGR, according to a TOI report.

The department on Friday decided to settle the dues against the entire money it has received. This comes at a time when Bharti Airtel and Tata group have insisted that their past dues are much lower than what they have paid to the government.