Supreme Court directs telcos to file audited balance sheets for past 10 years

In a big move on the adjusted gross revenue (AGR)-related dues case, the Supreme Court has directed telcos to file audited balance sheets for the past 10 years and come up with payment proposals, and has asked the Department of Telecommunications (DoT) to look into them. The directive comes on the back of the telecos’ plea to the Supreme Court, to grant them a 20-year timeline to pay their AGR dues without any additional bank guarantee or personal guarantees.