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New Delhi:
The Centre, requested at present if Reliance Jio ought to be held chargeable for dues whether it is incomes income by means of shared spectrum, informed the Supreme Court that it will settle for any resolution the judges made for the restoration of AGR dues. In the final listening to, the courtroom had requested why Reliance Jio, which is utilizing RCom’s spectrum beneath a spectrum-sharing settlement, shouldn’t be paying RCom’s AGR (Adjusted Gross Revenue) dues.
This problem got here up when the courtroom was listening to the ailing telecoms on whether or not spectrum could be offered beneath the Insolvency and Bankruptcy Code proceedings.
Jio, represented by senior advocate Harish Salve, informed the courtroom that it’s not concerned in any IBC proceedings and isn’t buying RCom spectrum.
RCom has informed the Supreme Court in regards to the plan of UV ARC (UV Asset Reconstruction Company) to take over RCom, rebuild the enterprise enterprise and monetize belongings by promoting belongings comparable to spectrum and equipment.
On July 20, the highest courtroom made it clear it is not going to hear “even for a second” the arguments on reassessment or re-calculation of the AGR associated dues of telecom corporations which run into about Rs 1.6 lakh crore.
In a subsequent listening to, it additionally requested the telecom division the way it plans to recuperate the AGR-related dues from corporations dealing with insolvency proceedings and whether or not spectrum given to those corporations could be offered.
The telecom division has informed the courtroom that spectrum is owned by the nation, held in belief by the federal government and can’t be offered. “Telecoms don’t own spectrum, contract allows only its use,” the division mentioned. Spectrum can’t be subjected to IBC proceedings both, it mentioned.
The bench of Justices Arun Mishra, S Abdul Nazeer and M R Shah requested the counsels for Reliance Jio and RCom to put their spectrum sharing agreements on file.
“We have directed them (parties) to place on record the information relating to Agreement entered into with respect to using of spectrum by the respective parties. In the case of RCOM, its spectrum of 800 MAZ is being used by Reliance Jio from 2016. Let the agreement entered into between the parties be placed on record,” the bench mentioned in its order.
The subsequent listening to will probably be held tomorrow.
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