Supreme Court gives telecom firms 10 years to clear AGR dues of Rs 1.6 Lakh Crore; 10% to be paid by March 31

New Delhi, 1-Sep-2020

The Supreme Court on Tuesday gave telecom firms 10 years to clear Adjusted Gross Revenue related dues, which run into about Rs 1.6 lakh crore. The court said 10% of the outstanding amount is to be paid by March 31, 2021. The installments have to be paid by February 7 of every succeeding year and any default will accrue interest. Non-payment will also invite contempt of court proceedings.