New Delhi: In setbacks to telecommunications companies, the Supreme Court on Friday fired their requests to recalculate customized gross income (AGR) which will be paid to the center and now they have to pay total Rs 1.69 lakh crore as directed by the court.
who rejected their self-assessment of contributions around Rs 40,000 Crore.
A judicial bench L Nageswara Rao and Hrishikesh Roy fired the defense of telecommunications companies that had requested that there was an error in the government official who calculated contributions and looking for the direction of the court to improve.
With the dismissal of the application, they must obey the September SC command where the telecommunications company is given 10 years more time to clean the remaining AGR contributions around Rs 1.43 lakh crore to the center.
Because many telecommunications companies face financial problems and can go to winding operations because they cannot pay the entire amount at once, SC has agreed with the central application that the payment options staggered to the company.
The court, however, has explained that the company must pay contributions in “Toto”.
The total contribution to telecommunications companies is Rs 1.69 Lakh Crore in October 2019 when SC passes the verdict that supports the center.