Transfin.

Government to Take No Action Against Telcos Even as Deadline to Pay AGR Dues Ends

Deadline to pay AGR dues ends, but government not to take action against telcos.

 

COMPANIES

SEBI to conduct forensic audit of Infosys books.

Markets regulator SEBI is set to order a forensic audit of Infosys books following whistleblowers’ allegations, which emerged last year that its top executives were involved in financial irregularities. 

 

The development comes shortly after Infosys’s internal audit committee concluded that the charges made by the whistleblowers were without merit. Bloomberg Quint

 

Deadline to pay AGR dues ends, but government not to take action against telcos.

The Supreme Court deadline to pay AGR dues ended yesterday.

 

Now while Reliance Jio has paid ?195cr to clear dues related to its licences, Vodafone Idea, Airtel and Tata Teleservices are still awaiting the hearing of their pleas in the top court before paying the dues.

 

However, as per a Department of Telecommunications (DoT) internal letter, the government shall not take any coercive action against the licencees in case they fail to comply with the SC order, until further orders. Livemint

 

FYI: As per the SC verdict, Vodafone Idea owes more than ?50,000cr ($7,035m) to DoT, while Bharti Airtel has to pay ?35,586cr ($5,007m). Tata Teleservices, which sold its mobile services business to Airtel, has dues of ?14,000cr ($1,969m).

FIN.

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