Union Cabinet approves fresh lifeline for telecom sector
The package comes six weeks after Kumar Mangalam Birla resigned from the post of chairman of Vodafone Idea Ltd on August 4
SC orders telcos to clear AGR dues in 10 years, 10% to be paid by March 31
Failure to pay the instalments of the dues would incur penalty, interest and contempt of court, the bench cautioned the telecom firms
Sensex, Nifty clock fourth successive loss under AGR, coronavirus clouds
However, both indices recovered lost ground in the latter part of the day
Telecom majors seek open court hearing in SC of their pleas on AGR
The recovery of past dues by the government was based on adjusted gross revenue of about Rs 92,000 crore.
RCom lenders reject resignation of Anil Ambani, 4 other directors
Reliance Communications had posted a consolidated loss of Rs 30,142 crore for the September 2019 quarter.
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