AGR Dues: Bharti Airtel Pays Additional Rs 8,004 Crore, Claims Compliance With Supreme Court Judgment
Airtel said it calculated the liabilities on self-assessment basis till Dec. 31, 2019 and the payment includes interest.
Telecom operator Bharti Airtel Ltd. on Saturday said that it has made an additional payment of Rs 8,004 crore towards adjusted gross revenue dues to the Department of Telecom.
The payment of Rs 8,004 crore is in addition to Rs 10,000 crore the company paid on Feb. 17, 2020 in compliance with the Supreme Court judgment, it said in a regulatory filing.
The company said it calculated the liabilities on a self-assessment basis till Dec. 31, 2019 and the payment includes interest up to Feb. 29, 2020.
The company has carried out self-assessment from FY 2006-07 up to Dec. 31, 2019 and interest thereon up to Feb. 29, 2020 in line with the Adjusted Gross Revenue judgment, Bharti Airtel said.
"Accordingly the company paid an additional amount of Rs 3,004 crore towards the full and final amounts due over and above the ad-hoc amount of Rs 10,000 crore paid on February 17, 2020, on behalf of Bharti Group of companies," the filing said.
The payment included liabilities on Bharti Airtel, Bharti Hexacom and Telenor India. "We have also deposited an additional amount of Rs 5,000 crore, as an ad-hoc payment (subject to the subsequent refund/adjustment to cover differences, if any arising from the reconciliation exercise with the DoT," Airtel said.
According to DoT estimates, Airtel owed nearly Rs 35,586 crore, including licence fee, spectrum usage charges with interest on the unpaid amount, penalty and interest on penalty till July 2019.
"Based on the aforesaid payment we have now complied with AGR judgement and the directions in the order of the Hon'ble Supreme Court dated October 24, 2019," the company said