Bharti Airtel has moved the Supreme Court over arithmetical errors in the telecom department's calculation of adjusted gross revenue (AGR)-related dues. Vodafone Idea may follow suit in the coming days, some reports said.
Airtel claims that total AGR dues payable on account of the license fee is limited to ₹21,000 crore, CNBC TV18 reported. However, the demand raised by DoT of ₹43,989 crore includes license fee dues and spectrum usage charges, of which the telco has paid ₹18,004 crore.
Vodafone Idea’s total dues are currently at ₹58,254 crore. If only licence fee will be considered, total dues will come down to ₹28,308 crore, as per CNBC TV18's estimates. Vodafone Idea has already paid ₹7,854 crore.
Following the development, the scrips of Bharti Airtel and Vodafone Idea surged as much as 2.5% on the NSE.