Market Watch

Telecom companies move Supreme Court, seek review on AGR verdict

Telecom majors, including Bharti Airtel and Vodafone Idea, moved the Supreme Court on Friday seeking review of certain directions passed in its judgement favouring the government on recovering adjusted gross revenue (AGR) of about Rs 92,000 crore from telecom service providers. The apex court had on October 24 upheld the AGR definition formulated by the Department of Telecom (DoT) and termed as "frivolous" the nature of objections raised by the telecom service providers.
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