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Supreme Court slams government for not making recoveries pursuant to AGR judgment.

Justice Arun Mishra: How can desk officer say no recovery will happen ? Can a desk officer now stay the order of the Supreme Court? Who is this desk officer ? Let us wind up this Supreme Court
Justice Mishra to SG: Your desk officer has the temerity to sit over our order and stay our order?

Is this an outcome of the money power ? If not then what is this?

@arpanc_ reports
Justice Mishra: Call the desk officer here? We have to draw contempt against the officer and companies.

What is the respect to a Supreme Court order? Not even a penny has been deposited so far.

@arpanc_ reports
Reupping what I said days ago...can kicking helps noone

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More from @menakadoshi see all

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menaka doshi
@menakadoshi
#Markets in #2019...in charts.

The year in which big got bigger.
The ones on the left...better luck next year. The ones on the right...don't drink and drive tonight.
The Six Samurai.
Read 5 tweets
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menaka doshi
@menakadoshi
So companies can now choose which tax bracket they want to be in. 30+% with incentives. Or 22+% without. Or start a new manufacturing company to avail 15% tax rate.

bloombergquint.com/business/finan…
First immediate impact is corporate bottomlines (profitability).
Hence earnings re-ratings.
Stock markets celebrate.
Sensex, Nifty up 6% or so

bloombergquint.com/markets/corpor…
But not all companies will benefit equally (ofcourse)

For instance,

The effective tax rate of Nifty companies on an aggregate basis was 26% which will now come down to 25.17%. - Kotak Securities
Read 15 tweets
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menaka doshi
@menakadoshi
Make no mistake. This is a tax. A terrible one at that. Because it's disguised. #CSR
So after companies have paid tax on their taxable income, they have to pay a tax on the profit too. #CSR

No small amount. 2% every year.
So far #CSR was a "comply or explain" provision. Probably the first one in Indian company law.

That means - the company must comply with the provision or explain to shareholders why they haven't complied.

Common in corporate governance provisions in the west.
Read 19 tweets

Related threads

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Bar & Bench
@barandbench
#AGR : Supreme Court directs all erring telcos to state why contempt should not be drawn against them for non-payment of AGR dues.

"I am literally shocked", says Justice Arun Mishra
#AGR: Court also pulls up the DoT Desk Officer who wrote to the Attorney General asking him to not insist on payemnt of dues, asks the Officer to explain why no action should be initiated against him.

"This is nothing but a device to oblige the companies..", Justice Arun Mishra
AGR: "I am literally shocked" Justice Arun Mishra directs presence of Managing Directors of telcos #AGR
@airtelindia @Airtel_Presence @VodafoneIN
barandbench.com/news/agr-i-am-…
Read 6 tweets
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Live Law
@LiveLawIndia
A bench comprising Justices Arun Mishra, Abdul Nazeer and M R Shah has assembled to hear a batch of fresh petitions filed by telecom companies seeking more time for payment of AGR dues.
@airtelindia @VodafoneIN Tata Teleservices etc the petitioners.
@airtelindia @VodafoneIN Justice Mishra not pleased with the plea, “What is happening in this country ? We want to use very harsh words because this is complete nonsense ! We have decided and said what we have to on this case. Is there any law left in the country ?"
@airtelindia @VodafoneIN Justice Mishra, “Who is filing these applications ? What have you made of this system ? How can this be done ?”
Read 9 tweets
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Utkarsh Anand
@utkarsh_aanand
#AGR hearing in the #SupremeCourt commences with a light hearted comment by Justice Arun Mishra. The leading judge on the bench wanted a light lamp to be moved away form his dais. The court staff fails to do so. The judge does it himself. "Yahan sab kaam khud hi karna padta hai".
Govt company Oil India, represented by Sr adv Mukul Rohatgi, seeks an audience but Justice Mishra is irate. "Who is making all this happen? We want to use very harsh words. This is completely nonsense. We have already said what we have to. What have you made of this system?"
Rohatgi opts to withdraw. Another matter mentioned but Justice Mishra says he is anguished. "A desk officer in the Govt stays a #SupremeCourt order. He says that he can stay the operation of the court order. Is there any law left in the country? Call that desk officer here."
Read 7 tweets
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Alejandro Alvarez
@aletweetsnews
#NOW: Hundreds have taken to the Capitol steps demanding witnesses be allowed to testify in the Senate’s impeachment trial. Three warnings from the Capitol police are up and arrests are about to start. Leading them is Rev. William Barber.

#SwarmTheCapitol
The view from up top before the cops declared an unlawful assembly. Might be the first time I’ve seen an impeachment-related protest fill the whole approach to the Capitol’s east lawn. Though only a few dozen are risking arrest, the rest backed off.

#SwarmTheCapitol
Article 2, Section 4 of the Constitution (aka the impeachment process) in gigantic banner form, unfurled in the shadow of the Capitol rotunda - and quickly seized by the police.

#SwarmTheCapitol
Read 8 tweets
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Utkarsh Anand
@utkarsh_aanand
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.
Read 5 tweets
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Shrinjan Rajkumar Gohain
@shrinjanrg
Justice Ranjan Gogoi was sworn in as the 46th Chief Justice of India at 10:50 am IST on 3rd October 2018.
“I am what I am and I cannot change myself,” the Chief Justice of India said while referring to Supreme Court Bar Association President Mr Vikas Singh’s remarks that Justice Ranjan Gogoi is “strict and perfectionist”.

timesofindia.indiatimes.com/india/i-am-wha…
Chief Justice of India Ranjan Gogoi held a rare video conference with all high court chief justices on 5th October 2018 and told them he would do a review in three weeks!
theprint.in/governance/be-…
Read 74 tweets

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