This is all taken from CNBC-TV18.com’s coverage of the Supreme Court hearing in the AGR case today.
Here are the main highlights of today’s case:
AGR case –
Voda-Idea claims it is on the verge of bankruptcy, joins Airtel’s plea to seek correction of accounting errors in AGR application.
Solicitor General Tushar Mehta advises that he has not received any instructions from DOT to allow the errors to be corrected.
SC observes that he has said not only once, but two and three times that the AGR request cannot be recalculated.
SC reserves the order on Bharti Airtel, Voda Idea requests the correction of errors in the AGR request.
Voda Idea in SC –
The figure is not set in stone, SC has the power to correct arithmetic errors.
My dues are 58,000 crore, we are about to sink, our debts are 1.8 crore lakh.
Let’s put our calculations before DOT, let DOT take a call.
Bharti Airtel to SC –
In the calculation of the AGR contributions, there are cases of duplication, the payments made are not counted.
By pure error, some allowable deductions were also not authorized.
Asking only these problems, the errors must be taken into account by the DOT.
I don’t want to pay thousands of crore for these mistakes.
Tata to SC –
But like any tax or charge, the AGR must comply with the law.
The judgment only prohibits reassessment, SC did not prohibit the rectification of calculation errors.