Vodafone Idea moves SC over 'errors' in DOT's AGR calculation
Vodafone Idea moves SC over 'errors' in DOT's AGR calculation: A day after Bharti Airtel approached the Supreme Court over the assessment of adjusted gross revenue (AGR) calculations, Vodafone Idea also moved the top court seeking "correction" in the AGR assessment.
The petition filed by the telco on Thursday said that payments made by the company have not been accounted for in the AGR demands issued by the department. Further, it also said that double counting has been done on some revenue items in the AGR demands.
It also said that deduction has not been given for PSTN related call charges and for roaming charges actually paid to other operators.
"The excess demand upon the applicant which is attributable to these error amounts to Rs 5,932 crores of principal amount, which would have an overall impact of over four times on the total principal amount aforementioned due to the imposition of interest, penalty and interest on penalty," the petition said.
In September, the apex court allowed telecom operators 10 years to pay up AGR dues.
Vodafone Idea's total AGR dues as per DoT stood at Rs 58,254 crore, while the dues according to the company stood at Rs 21,533 crore.
The company has paid AGR dues worth of Rs 7,854 crore so far.
Shares of the telco moved higher on the development. Around 1.08 p.m. Vodafone Idea shares on the BSE were trading at Rs 12.17, higher by 1.67 per cent from its previous close.
