The debt-laden telecom companies, including Bharti Airtel and Vodafone Idea, are stuck between the devil and the dead sea. They either have to pay up a sum of Rs 1.47 lakh crores as AGR dues or it may just lead to contempt of court. The initial deadline for the telecom companies to pay up the AGR dues was 23 January and in a seemingly last ditch attempt, the telecom companies had filed fresh pleas seeking more time from the Supreme Court. The apex court instead came down heavily on both the telecom companies and the department of telecommunication.
The SC warned the telcos with contempt proceedings if they don't comply with its order and pay up. They were also particularly upset and angered over a desk officer writing a letter to concerned authorities asking that they shouldn't intimidate telcos for payment of their dues and to ensure that no coercive action is taken against them. "Is there no law left in the country..." that's what a bench of Justices Arun Mishra, S Abdul Nazeer and MR Shah said, on 14 February. The bench also issued contempt notice against the officer of Department of Telecommunications.
But how did the AGR dispute come down to this? And what are the repercussions of the Supreme Court order going to be on the telecom companies and the general economy? And what has the Centre done to salvage this fragile economic crisis? Tune in to The Big Story!
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