10 years for telecom companies to clear AGR dues of Rs 1.6 lakh crore: Supreme Court

New Delhi: The Supreme Court Tuesday granted 10 years time to telecom firms to clear outstanding dues in its verdict in the Adjusted Gross Revenue (AGR) case

The 10-year timeline for repayment of the dues will begin from April 1, 2021, said the Supreme Court bench led by Justice Arun Mishra. The remaining installments will have to be paid by February 7 every year, the apex court said.

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The Supreme Court also said that 10 per cent of the total AGR dues will have to be cleared by telecom firms by March 31, 2021.

Any default in the outstanding dues payment will invite contempt of court proceedings.

(More details to follow)

PNN