Airtel Pays Rs 8,004 Crore As Second Tranche Of AGR Dues; Claims Completion Of Compliance With SC’s Order

Sunil Mittal led telecom sector giant Bharti Airtel on Saturday (29 February) paid additional Rs 8,004 crore towards the adjusted gross revenue (AGR) dues to the Government of India's Department of Telecom (DoT), reports Financial Express.

With the latest payment of Rs 8,004 crore in compliance with Supreme Court's directive takes the total sum of AGR dues paid by Bharti Airtel so far to Rs 18,004 crore. The sums have been paid based on self-assessment of dues carried out by telecom giant for period starting financial year 2006-07 upto 31 December of bygone year and the payment includes interest up to 29 February 2020.

“Accordingly the company paid an additional amount of Rs 3,004 crore towards the full and final amounts due over and above ad-hoc amount of Rs 10,000 crore paid on February 17, 2020 on behalf of Bharti Group of companies,” the company’s filing said as per report.

“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 added.

Having deposited the sum, Bharti Airtel has claimed that it has completed the compliance of the Supreme Court's directions dated 24 October.

Meanwhile, it should be noted that as per the DoT, Bharti Airtel owes the DoT close to Rs 35,586 crore, which is much larger than the sum deposited by it. The amount includes licence fee, spectrum usage charges, interest on the unpaid amount, penalty amount and the interest on the penalty amount.