The judgment had permitted the Department of Telecommunications (DOT) to include all non-telecom revenue in AGR.
The curative petitions had been put up by the telcos as a last legal resort to reduce their burden of ₹1.43 trillion in AGR, which was based on a subsequent judgment in 2020. Of this, nearly 75 per cent comprised interest, penalties, and interest on penalties.
The government was to get ₹92,461 crore as licence fees and ₹55,000 crore as spectrum usage charges.
In 2020, the court directed the telcos to pay a penalty and penal interest in the case of default, besides being liable to contempt of court proceedings. The telcos had subsequently pushed for the penalty to be limited to 50 per cent of the pending dues, and an interest rate on the penalty to be lowered to 2 per cent above the State Bank of India's prime lending rate. The latest ruling reaffirms the stance that no revaluation or correction will be allowed for AGR, the consolidated figures for which are not known.
The Bench of Chief Justice of India D Y Chandrachud, and judges Sanjiv Khanna and BR Gavai, in their order of August 30, which was made public on Thursday, rejected the hearing of the curative petition in open court and dismissed the pleas.
Diese Geschichte stammt aus der September 20, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der September 20, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Low valuation sparks interest in IndusInd
Analysts believe worst may be over for lender after sombre Q2 results
Demand, margin gains ahead for UPL
Agrochemicals manufacturer UPL reported a muted quarter as operating profit remained flat on a year-on-year (Y-o-Y) basis, due to a price decline (down 7 percent Y-o-Y) and surplus capacity in China.
Exchanges roll back direct payout of securities to client accounts
The National Stock Exchange (NSE) and BSE on Tuesday announced rollback of the direct payout of the securities to client demat accounts—which was enabled on November 11.
Swiggy makes market debut today
Shares of food delivery major Swiggy will make stock market debut on Wednesday following its ₹11,327 crore initial public offering (IPO), second biggest this year and sixth-largest to hit the domestic market.
NTPC Green Energy IPO eyes $12 bn Valuation
NTPC Green Energy Ltd is considering seeking a valuation of about $12 billion in what could be one of India's biggest initial public offerings (IPO) in the renewable energy industry, according to people familiar with the matter.
Sebi simplifies process for registration of certain FPIs
Abridged version of application form to be available in 3 months
11 of 17 Nifty sector indices in correction mode
As many as 11 of 17 frontline Nifty sector indices are in 'correction' mode with energy, auto and central public sector enterprises (CPSE), consumption, and fast-moving consumer goods (FMCG) suffering the most in the recent market fall, according to data.
Nifty falls to near 5-month low
Earnings disappointment and foreign outflows continue to weigh on markets
BITING THE BULLET
The Bullet Train has been a 'dream project'. Can it become a reality anytime soon?
India to be among top 3 or 4 mkts for Siemens in 3 years
Country now contributes 3.5-4% to the firm's revenue