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Bharti Airtel makes additional payment of Rs 8,004 crore towards AGR dues

Telecom operator Bharti Airtel on Saturday reported that it has created extra payment of Rs eight,004 crore in direction of altered gross earnings dues to the Division of Telecom (DoT).

The payment of Rs eight,004 crore is in addition to Rs 10,000 crore the enterprise compensated on February 17, 2020 in compliance to the Supreme Court docket judgement, it reported in a regulatory filing.

The enterprise reported it calculated the liabilities on self assessment foundation till December 31, 2019 and the payment involves curiosity up to February 29, 2020.

The enterprise has carried out self assessment from FY 2006-07 up to December 31, 2019 and curiosity thereon up to February 29, 2020 in line with the Adjusted Gross Profits (AGR) judgement, Bharti Airtel reported.

“Accordingly the enterprise compensated an extra total of Rs 3,004 crore in direction of the comprehensive and ultimate amounts thanks around and above ad-hoc total of Rs 10,000 crore compensated on February 17, 2020 on behalf of Bharti Team of providers,” the filing reported.

The payment incorporated liabilities on Bharti Airtel, Bharti Hexacom and Telenor India.

“We have also deposited an extra total of Rs five,000 crore, as an ad-hoc payment (topic to the subsequent refund/adjustment to protect discrepancies, if any arising from the reconciliation work out with the DoT,” Airtel reported.

According to DoT estimates, Airtel owed just about Rs 35,586 crore, like licence cost, spectrum use charges with curiosity on unpaid total, penalty and curiosity on penalty till July 2019.

“Based on the aforesaid payment we have now complied with AGR judgement and the instructions in the buy of the Hon’ble Supreme Court docket dated October 24, 2019,” the enterprise reported.