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Bharti Airtel Pays Additional Rs 8,000 Crore Towards AGR Dues

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In a stock exchange filing on Saturday, Bharti Airtel said that it has paid Rs 3,004 crore towards its dues to the government with regard to the Supreme Court's AGR (adjusted gross revenue) judgement. It further said that an additional Rs 5,000 crore was made "as an ad-hoc payment" to cover any differences from the reconciliation exercise with the DoT.

The latest payment is in addition to the Rs 10,000 crore already paid on 17 February towards the AGR dues.

Bharti Airtel Pays Additional Rs 8,000 Crore Towards AGR Dues
Bharti Airtel: Quotes, News
BSE 549.25BSE Quote4.85 (-0.88%)
NSE 549.60NSE Quote4.5 (-0.82%)
 

The company said that it "carried out self-assessment from FY 2006-07 onwards upto December 31, 2019, and interest thereon up to February 29, 2020 in line with the AGR Judgment, various license agreements entered into with the Department of Telecommunications ("DoT") and the various directions issued by the DoT from time to time with respect to Spectrum Usage Charges."

"Accordingly, the Company has paid an additional amount of Rs. 3,004 crores towards the full and final amounts due over & above the ad-hoc amount of Rs, 10,000 crores paid on February 17, 2020 on behalf of the Bharti Group of Companies (Bharti Airtel, Bharti Hexacom and Telenor India)," it said

"In addition to the aforesaid amounts paid basis our self-assessment, we have also deposited an additional amount of Rs. 5,000 crores, as an ad-hoc payment (subject to subsequent refund / adjustment) to cover differences, if any, arising from the reconciliation exercise with the DoT," it added.

After what it calls its "full and final" amount, Airtel has paid Rs 18,004 crore in total when compared to the AGR demand of Rs 35,000 crore.

Read more about: bharti airtel agr airtel
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