#AGR case hearing begins at Supreme Court 
#AGR Case | Solicitor General tells Supreme Court, since PSUs are not in the business of telecom services, we are withdrawing demands
PSU companies surge in trade as Govt withdraws #AGR dues demand
#AGR Case | Solicitor General tells the Court, we have received affidavits from telecom companies on securities. Govt can go back and consider the submissions by companies
#AGR Case | Bharti Airtel tells Supreme Court, it has already paid Rs 18,000 cr and as per company only about another Rs 1,000 cr is pending. It says co has fully complied with demand, as per its understanding
#AGR Case | Bharti Airtel tells Supreme Court, co's payment of AGR dues constitutes 70% of the total amount collected so far by DoT
#AGR Case | Bharti Airtel says co has spectrum of Rs 1.12 lakh cr and have licences, bank guarantees which are far in excess of the demands made. Company endorses the suggestion by Solicitor General to consider co's proposal
#AGR Case | Bharti Airtel tells Supreme Court, bank guarantees of Rs 10,800 cr are pending with the DoT. It can be encashed if company defaults on payments
#AGR Case | Vodafone Idea tells SC, it's an extremely precarious position for co. Co is not in a position to give any fresh Bank guarantee. Parent company has written off investment. Over Rs 10,000 cr of bank guarantees are lying with the DoT, should be considered as security.
#AGR Case | Vodafone Idea says after servicing debt of Rs 1 lakh cr, paying creditors, continue to make losses. company has no profit, for past many quarters. Most assets are given as securities to bank to secure credit
#AGR Case | Vodafone Idea tells the Court company has no security or proposal to give. Only proposal is to work and pay the AGR dues. Co has bank guarantees of Rs 15,000 cr that can be considered as security
#AGR Case | SC Observes, What if Vodafone Idea goes into insolvency during the 20-year period?
#AGR Case | Vodafone idea says company can file balancesheets, income tax returns, any document to show that company has no profits
#AGR Case | Supreme Court Observes, How has Vodafone Idea made provisions of Rs 52,000 cr of contingent liabilities if not making any money?
#AGR Case | Vodafone Idea tells Supreme Court, only way to pay AGR dues is to stagger payments over 20 years. We have to earn and pay is the only way. Company says assets are worth Rs 42,000 cr and it's been charged as securities to secure borrowing of over Rs 1 lakh cr
#AGR Case | SC Observes, all your (Vodafone Idea) assets are charged, you say you are a foreign company, what if you walk away, leaving your assets here. There has to be a mutual trust. What about personal guarantees by directors?
#AGR Case | SC Observes, there has to be provision for down payment to avail staggered payments. Need to show bonafide to claim benefits of staggered payment. Vodafone Idea must work something out to come with some offer
#AGR Case | SC Observes, reasonable amount needs to be paid upfront. It’s not possible for us to pass orders without reasonable upfront payment
#AGR Case | SC Observes, this is the only industry that has done business during lockdown. It should deposit a reasonable amount.
#AGR Case | Vodafone Idea counsel tells the Court, he appreciates the court's suggestion. He says, allow us 2-week time to confer with the management of the company
#AGR Case | Tata Counsel tells SC, consider it a joint submission from all telecom cos that bank guarantees would be unfeasible. Furnishing bank guarantees will have an adverse impact of further invsts in sector. We are being required to pay not just principal, but int &penalty
#AGR Case | Supreme Court Order- we have considered the submissions made by telecom companies. They have sought more time
#AGR Case | Supreme Court Order- On the issue of furnishing undertaking, have deferred the hearing to third week of July. DoT had sought time to consider telcos’ proposals, will allow time till third week of July
#AGR Case | Supreme Court Order- Direct telecom companies to submit financial documents
