AGR case Vodafone says - all the money she earned in 15 years is gone, if the Supreme Court says company officials will now go to jail
The Supreme Court, while hearing the Adjusted Gross Revenue (AGR) case, had sternly warned Aditya Birla Group's telecom company Vodafone Idea. He also said that he would now send the company officials to jail.
Mukul Rohatgi, a senior lawyer appearing for the company, on the other hand, told the court that all that Vodafone Idea had earned in the last 15 years was gone. It cannot afford to pay the AGR immediately. The telecom department claims arrears of about Rs 58,000 crore on Vodafone Idea. However, the apex court had stayed its order in the matter till August 10.
"If you have been losing money for decades, how can we trust you?" How will you pay the remaining AGR? "If you do not comply with our order, we will take strict action," Justice Arun Mishra said. Now whoever does wrong will be sent straight to jail.
Government and company claims differ
The telecom department owes Vodafone Idea a total of Rs 58,000 crore. It also includes non-telecom revenue as a loan following a Supreme Court order. The company had posted a net loss of Rs 73,878 crore for the financial year ended March 2020.
Read Divya Bhaskar Report
According to the Department of Telecom, Vodafone Idea owes Rs 58,254 crore in AGR arrears till
FY16-17. While the company says that there is an error in the department's assessment and the amount paid in the past has not been deducted from the outstanding debt. According to the company, it now owes only Rs 46,000 crore.
The Supreme Court, while hearing the Adjusted Gross Revenue (AGR) case, had sternly warned Aditya Birla Group's telecom company Vodafone Idea. He also said that he would now send the company officials to jail.
Mukul Rohatgi, a senior lawyer appearing for the company, on the other hand, told the court that all that Vodafone Idea had earned in the last 15 years was gone. It cannot afford to pay the AGR immediately. The telecom department claims arrears of about Rs 58,000 crore on Vodafone Idea. However, the apex court had stayed its order in the matter till August 10.
"If you have been losing money for decades, how can we trust you?" How will you pay the remaining AGR? "If you do not comply with our order, we will take strict action," Justice Arun Mishra said. Now whoever does wrong will be sent straight to jail.
Government and company claims differ
The telecom department owes Vodafone Idea a total of Rs 58,000 crore. It also includes non-telecom revenue as a loan following a Supreme Court order. The company had posted a net loss of Rs 73,878 crore for the financial year ended March 2020.
Read Divya Bhaskar Report
According to the Department of Telecom, Vodafone Idea owes Rs 58,254 crore in AGR arrears till
FY16-17. While the company says that there is an error in the department's assessment and the amount paid in the past has not been deducted from the outstanding debt. According to the company, it now owes only Rs 46,000 crore.
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