A sessions court in Gujarat's Amreli district on Tuesday sentenced three persons to life imprisonment for cow slaughter under provisions of the Gujarat Animal Preservation Act, the Deccan Herald reported. The Act bans the slaughter of animals belonging to the cow progeny in the state
Vodafone Idea Shares Jump 9% As Supreme Court Allows Centre To Reconsider AGR Dues Issue
Vodafone Idea Shares Jump 9% As Supreme Court Allows Centre To Reconsider AGR Dues Issue
Vodafone Idea shares reversed early losses and surged 9% on Monday after the Supreme Court allowed the Central government to reconsider the reassessment of the telecom operator's adjusted gross revenue (AGR) dues. The apex court observed that the matter lies within the policy domain of the Union government.
The ruling marks a significant relief for the debt-laden telecom company, opening a crucial policy window that could help Vodafone Idea sustain operations and attract new investments.
On October 13, the Supreme Court had deferred the hearing of Vodafone Idea's plea in the AGR dues case to October 27. The debt-laden telecom firm has challenged the DoT's demand, seeking to quash additional AGR dues worth Rs 5,606 crore claimed for the period up to FY 2016– 17.
AGR, or adjusted gross revenue, is the income metric used to determine licence fees and spectrum usage charges that telecom operators must pay to the government.
The apex court has previously adjourned the hearing several times at the request of both Vodafone Idea and Solicitor General Tushar Mehta, representing the Centre. The government, which holds nearly 50% equity in Vodafone Idea, had earlier said it was working toward an amicable resolution with the company.
Vodafone Idea has sought directions for the DoT to “comprehensively re-assess and reconcile all AGR dues for the period up to FY2016–17" in line with the Deduction Verification Guidelines issued on February 3, 2020.
Earlier this year, the Supreme Court refused to review its 2021 order rejecting telecom companies' pleas to correct alleged errors in the AGR dues calculation.
In September 2020, the court had set a 10-year timeline for telecom service providers to clear AGR-related dues amounting to Rs 93,520 crore. It directed operators to pay 10% of the total dues by March 31, 2021, with the balance to be paid in annual instalments between April 2021 and March 2031.
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The apex court had delivered its landmark verdict on the AGR issue in October 2019. Following the verdict, the DoT filed a plea seeking approval for staggered repayment of dues over 20 years.
Previously, AGR calculations included both telecom and non-telecom income—such as interest earned from deposits or asset sales. However, in 2021, the government revised the definition to exclude non-telecom income, easing the financial burden on operators.
Source: News18
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A sessions court in Gujarat's Amreli district on Tuesday sentenced three persons to life imprisonment for cow slaughter under provisions of the Gujarat Animal Preservation Act, the Deccan Herald reported. The Act bans the slaughter of animals belonging to the cow progeny in the state
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