Modi government sheds tears for the private telecom companies.

As we have reported earlier, the Hon’ble Supreme Court has already ordered the private telecom companies to make an immediate payment Rs.1.3 lakh crore as AGR dues. However, when the case came up for hearing in the Hon’ble Supreme Court on 11.06.2020, the government submitted to the Court that the private telecom companies would collapse, resulting in loss of millions of jobs, if the private telecom companies are pressurised to pay the entire AGR dues immediately. The government has also submitted to the Hon’ble Supreme Court a formula, as per which the private telecom companies could pay the AGR dues over a period of 20 years, without any interests, penalty, etc. The Hon’ble Supreme Court is yet to take a final decision on the matter.