Reliance Communications - Latest News Update, Information, Photos & Videos on Reliance Communications at Lokmat Times

"The Supreme Court's acceptance of the DoT's definition of AGR is a setback to the telecom industry. The quantum and timing of cash outflow is uncertain as over 60 per cent of outstanding dues include taxes and penalties. If Vodafone Idea were to pay $4 billion immediately, it would cause a severe stress on their balance sheet. Also an immediate payment of such dues could delay the 5G spectrum auction as incumbents would have limited financial flexibilities to bid for 5G spectrum auctions," Nitin Soni, Director - Corporates, Fitch Ratings told .The Supreme Court had on Thursday upheld the government's broader definition of revenue on which it calculates levies on telecom operators, dealing a Rs 92,000 crore blow to an industry already reeling from a collapse in tariffs and mounting debt.The Supreme Court (SC) has said the telecom companies would have to pay the fine and penalties, apart from the AGR dues on licence. The payout by telcos could rise to an estimated Rs 1.23 lakh crore once spectrum usage charges (SUC) linked to the AGR are taken into account.Recovery is unlikely from bankrupt companies given banks are already taking a haircut on such bankrupt telcos.While Bharti Airtel has pending licence fee dues of nearly Rs 21,700 crore, the dues of the combined entity of Vodafone Idea amount to nearly Rs 28,300 crore. Anil Ambani-led Reliance Communications, which is undergoing insolvency proceedings, has pending licence dues of nearly Rs 16,500 crore, according to an affidavit submitted before the apex court by the Department of Telecommunications (DoT) in July.( With inputs from IANS )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Narendra Modi

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Reliance CommunicationsFOLLOW

Reliance communications, Latest News

Business :Anil Ambani-led Reliance Communications to offload real estate assets

Insolvency tribunal NCLT Mumbai has approved the sale of some of the real estate assets of telecom company Reliance ... ...

Business :Govt to auction spectrum in Apr valued at Rs 5.23 lakh cr

The Digital Communication Commission (DCC), the highest policy making body of the Telecom Ministry on Friday approved the spectrum auctions to be held in March/April while making no change in the in the reserve pricing of the radiowaves decided by th ...

National :Immediate payment of dues may cripple 5G bids by telcos: Fitch

Any immediate payment of dues by telcos following the Supreme Court order on adjusted gross revenue (AGR) would leave them with limited financial flexibility to bid for 5G spectrum thus delaying its auction, Fitch Ratings has said. ...