Massive setback for #Airtel, #Vodafone Idea as #SupremeCourt accepts the DoT's definition of #AGR. Telcos, including RCom, to pay thousands of crores now.
#SupremeCourt said most of things will come under the Govt's definition of #AGR and telcos will have to pay up.
#SupremeCourt also holds telcos will have to pay all penalties & interests. Justice Arun Mishra said telcos will have to shell out everything. DoT's total demand is around Rs 92,000 Cr. #Airtel might end up paying more than Rs 21k Cr, #Vodafone more than Rs 10k Cr.
#SupremeCourt order piles up immense pressure on Vodafone Idea & Bharti Airtel, tottering under both large debt burdens of over Rs 1 Lac Cr each, & falling revenues. Profitability has also gone down since Reliance Jio's entry in September 2016.
#SupremeCourt will pass a separate order on fixing the time limit for the #telcos to pay up. Telcos sought 6 months, SG Tushar Mehta requests bench to fix a time so no further litigation can be rausd on this point. Justice Mishra clarifies no further adjudication will be done.
