Airtel secures TDSAT stay on DoT s Rs 1,376 crore demand
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Aircel lenders, UVARCL to move Supreme Court as NCLAT bars spectrum sale
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A number of now non-operating Indian telecom companies are no doubt fearing the worst after a recent ruling made it more difficult to sell their spectrum to pay off creditors.
Indian press reports indicate that, while a National Company Law Appellate Tribunal (NCLAT) ruling permits the sale of spectrum as part of the insolvency process, government dues need to be paid first.
The Department of Telecom has filed an affidavit before Supreme Court on the status of statutory dues paid by telecom operators, a government official said on Tuesday. Telecom operators, including Bharti Airtel and Vodafone Idea, had to pay 10 per cent of their Adjusted Gross Revenue (AGR) dues demanded by the DoT by March 31, 2021 as per Supreme Court directions. DoT has filed an affidavit before Supreme Court on the status of AGR payments, the official, who did not wished to be named, told PTI. The apex court had asked telcos to make 10 per cent of the upfront payment of their dues by March 31 to the DoT while the remaining amount is to be paid over a ten-year period starting April 1, 2021.