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Telecom Operators Approach SC Seeking Deadline Extension For Paying AGR Dues

Vodafone Idea, Tata Teleservices and Bharti Airtel approach SC seeking extension to the January 23rd deadline.

 

COMPANIES

Telecom operators approach SC seeking deadline extension for paying AGR dues.

Pleading For Me: Telecom operators Vodafone Idea, Tata Teleservices and Bharti Airtel have approached the Supreme Court of India in the AGR verdict yet again, this time seeking an extension to the January 23rd deadline to pay the dues.

 

The telecom companies have sought permission to sit with the Department of Telecommunications (DoT) and negotiate a settlement plan.

 

In a severe blow to telecom operators, the SC had last week dismissed pleas to review its earlier judgement that had asked them to pay more than ?1tr ($14.10bn) of dues to the Government. Bharti Airtel has to pay outstanding dues worth ?35,586cr ($5,028m), while Vodafone Idea owes the Government ?50,000cr ($7,064m). ToI

 

TikTok exploring ways to monetise its India business.

Show Me the Money: Social media platform TikTok is now exploring strategies to monetise its India business, after having amassed a significant user base in India (accounting for almost half its global downloads in the first half of last year).

 

As per sources, the global monetisation team of TikTok's Chinese parent, ByteDance, had flown down last month for meetings with key Indian creators and influencers on the app, as well as digital agencies and marketers.

 

Meanwhile...: TikTok is in the process of launching new tools and features that would make it easier for brands to get more information on influencers and their user base, and push their product placement and purchase details more visibly through pop-up formats. The app also began advertising this month for TikTok ads within the app and on rival platforms like Instagram. ET Internet

 

Brownie Points: As per analysts, in order to turn debt-free before March 2021, as promised by Group Chairman and Managing Director Mukesh Ambani to its shareholders in August 2019 , Reliance Industries will have to push hard for the completion of announced deals such as that with Saudi Aramco.

 

Analysts also added that the company will need stronger free cash flow (FCF) and more deals to meet debt reduction targets. BS

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