Vodafone Idea strikes SC over ‘errors’ in DOT’s AGR calculation

Image Source : TWITTER Vodafone Idea strikes SC over ‘errors’ in DOT’s AGR calculation
A day after Bharti Airtel approached the Supreme Court over the evaluation of adjusted gross income (AGR) calculations, Vodafone Idea additionally moved the highest court docket searching for “correction” within the AGR evaluation.

The petition filed by the telco on Thursday mentioned that funds made by the corporate haven’t been accounted for within the AGR calls for issued by the division. Further, it additionally mentioned that double counting has been achieved on some income objects within the AGR calls for.

It additionally mentioned that deduction has not been given for PSTN associated name prices and for roaming prices truly paid to different operators.

“The excess demand upon the applicant which is attributable to these error amounts to Rs 5,932 crores of principal amount, which would have an overall impact of over four times on the total principal amount aforementioned due to the imposition of interest, penalty and interest on penalty,” the petition mentioned.

In September, the apex court docket allowed telecom operators 10 years to pay up AGR dues.

Vodafone Idea’s whole AGR dues as per DoT stood at Rs 58,254 crore, whereas the dues in response to the corporate stood at Rs 21,533 crore.

The firm has paid AGR dues price of Rs 7,854 crore thus far.

Shares of the telco moved larger on the event. Around 1.08 p.m. Vodafone Idea shares on the BSE had been buying and selling at Rs 12.17, larger by 1.67 per cent from its earlier shut.

 
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