Even as the Department of Telecommunications (DoT) is expected to issue a notice to Tata Teleservices (TTSL) demanding payment of balance adjusted gross revenue (AGR) dues, Tata Group reportedly informed the government that the company paid its share of Rs 2,197.
The Tata Group said to the government that its share in the AGR dues is Rs 2,197 crore only and not the Rs 13,823 crore that has been demanded by the DoT, said a report in The Times of India.
Senior Tata officials made their position “very clear”, and said that they “do not have to pay anything more” towards past AGR dues, based on their self-assessed calculations, said the report quoting company sources.
On 17 February, Tata Teleservices had paid Rs 2,197 crore to the government, while DoT's calculations pegs the outstanding amount at over Rs 14,000 crore after the Supreme Court coming down heavily on telecom firms.
It is said that the DoT is expected to issue a notice to Tata Teleservices before 17 March demanding payment of AGR dues.
The Supreme Court will hear the modification pleas filed by telecom operators namely Tata Teleservices, Vodafone Idea and Bharti Airtel on the AGR ruling, on 17 March.
In January this year, it was reported that Tata Sons might pay the mandatory dues that its subsidiary Tata Teleservices owes to the DoT. The parent company reportedly initiated the process for arranging funds even as the Supreme Court is scheduled to hear the modification petition filed by five non-telecom companies this week, said a news report.
Tata Sons may depend on Tata Consultancy Services (TCS) for funds to pay the AGR dues of Rs 13,823 crore owed by the group's telecom subsidiary, Tata Teleservices.
The holding company's finance team is searching for funds from other sources as well in case of a crisis.
Earlier, Tata Sons was trying to raise around Rs 14,000 crore from banks and through internal accruals to pay the AGR dues of Tata Teleservices before the 23 January deadline.
On 20 January, three telecom firms—Vodafone Idea, Bharti Airtel and Tata Teleservices — had jointly filed a modification application in the Supreme Court seeking more time to pay the AGR dues to the government.
— With PTI inputs
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Updated Date: Feb 25, 2020 15:26:05 IST