Vodafone Concept moves SC in excess of ‘errors’ in DOT’s AGR calculation

Vodafone Strategy moves SC above ‘errors’ in DOT’s AGR calculation: A day soon after Bharti Airtel approached the Supreme Court docket around the assessment of altered gross revenue (AGR) calculations, Vodafone Thought also moved the leading court docket searching for “correction” in the AGR assessment.

The petition filed by the telco on Thursday explained that payments manufactured by the company have not been accounted for in the AGR calls for issued by the section. Further more, it also reported that double counting has been carried out on some profits items in the AGR demands.

It also claimed that deduction has not been presented for PSTN linked phone expenses and for roaming prices truly compensated to other operators.

“The surplus desire on the applicant which is attributable to these mistake amounts to Rs 5,932 crores of principal amount, which would have an over-all effects of over 4 times on the total principal amount aforementioned because of to the imposition of curiosity, penalty and desire on penalty,” the petition stated.

In September, the apex court docket allowed telecom operators 10 several years to pay up AGR dues.

Vodafone Idea’s full AGR dues as per DoT stood at Rs 58,254 crore, while the dues in accordance to the corporation stood at Rs 21,533 crore.

The company has paid AGR dues worth of Rs 7,854 crore so significantly.

Shares of the telco moved larger on the enhancement. Close to 1.08 p.m. Vodafone Concept shares on the BSE ended up buying and selling at Rs 12.17, better by 1.67 per cent from its preceding close.

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