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Supreme Court’s direction to telecom companies

The Supreme Court today gave the telecom organizations 10 years to reimburse Adjusted Gross Revenue duty which run into about Rs 1.6 lakh crore.

While diminishing the timeframe, the seat headed by Justice Arun Mishra gave following headings: The telecom firms should take care of 10 percent of obligations by 2021 due to Covid-19 and the rest can be paid in portions by March 31, 2031. In case of default, the organization will be culpable for scorn of court, the seat said. On the point with respect to whether range can be sold by the telecom organizations confronting procedures under the Insolvency and Bankruptcy Code, the seat asked the National Company Law Tribunal to choose whether range can be topic of goal measure.

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