#Tata Teleservices AGR Dues

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Tata Teleservices also decided to give 9.5% shares to the Government of India in lieu of the interest due

Tata Teleservices also decided to give 9.5% shares to the Government of India in lieu of the interest due

Tata Teleservices Update: After Vodafone Idea, the board of Tata Group’s telecom company Tata Teleservices also decided to convert the entire interest amount of the AGR (Adjusted Gross Revenue) dues into equity (shares). But have put their stamp on it. With this decision of Tata Teleservices, the Government of India will now hold 9.5 percent stake in the company. The company owes the government…

[newsoutbursts]

Guidelines mandate clearing of all dues prior to spectrum trading by telcos, DoT tells SC

Guidelines mandate clearing of all dues prior to spectrum trading by telcos, DoT tells SC

NEW DELHI: All liabilities including AGR-related dues should be cleared by telecom firms prior to spectrum trading as per the guidelines, the DoT informed Supreme Court on Monday.

The Department of Telecom further told the top court that it can seek to recover dues from sellers and buyers of spectrum, jointly or individually.

A bench of Justices Arun Mishra, S Abdul Nazeer and M R Shah was…

[arko006-blog]

DoT Said to Write Fresh Letters to Telcos Questioning on AGR Discrepancy The Department of Telecom (DoT) will write fresh letters to telecom companies questioning them about the variation in AGR dues assessed by firms themselves and its own calculations, according to a source.

[jyotifestpost]

Tata group term as Tata Sons chairman renewed for another 5 years, says N Chandrasekaran's

The Board of Tata Sons today reappointed N Chandrasekaran, 58, as its Executive Chairman for the next five years in a board meeting held here today.

Group patriarch, Ratan N Tata who was a special invitee to this meeting, expressed his satisfaction on the progress and performance of the Tata Group under the leadership of Chandrasekaran and recommended his term be renewed for a further five-year period.

The Board members also commended the performance of the Executive Chairman and unanimously approved the reappointment of Chandrasekaran, a statement by Tata Sons said. “It has been a privilege to lead the Tata Group for the last five years and I am delighted at the opportunity to lead the Tata Group for another five years, in its next phase," Chandrasekaran, 58, said.

Chandrasekaran's tenure in the last five years saw several mergers and acquisitions by the group in the steel, aviation and digital sectors and a complete exit from the cellular telephony industry. One of the first tasks of Chandra, as he is popularly known, was to get rid of Tata Teleservices which lost around Rs 60,000 crore in paying back bank loans apart from paying the AGR dues till date. Tatas sold the mobile phone business to Bharti Airtel while retaining debt and other liabilities of the company.

In one of the biggest acquisitions till date, Tata Steel acquired Bhushan Steel in May 2018 for Rs 35,200 crore after the company defaulted to bank loans and sent for the insolvency process. Tata Steel has managed to turn around the company which has been renamed as Tata Steel BSL. Tata Steel tried its best to sell its European business to ThyssenKrupp in the last two years but failed to close the deal after objections from several quarters.

In October last year, Tata Sons announced acquisition of Air India for Rs 18,000 crore from the Government of India. The Tata group already owns two airlines – Tata SIA Airlines and AirAsia India and the acquisition of Air India and its subsidiary, Air India Express will increase Tata’s combined market share to over 25 per cent of the airline industry.

[supernews]

N Chandrasekaran's term as Tata Sons chairman renewed for another 5 years

The Board of Tata Sons today reappointed N Chandrasekaran, 58, as its Executive Chairman for the next five years in a board meeting held here today.

Group patriarch, Ratan N Tata who was a special invitee to this meeting, expressed his satisfaction on the progress and performance of the Tata Group under the leadership of Chandrasekaran and recommended his term be renewed for a further five-year period.

The Board members also commended the performance of the Executive Chairman and unanimously approved the reappointment of Chandrasekaran, a statement by Tata Sons said. “It has been a privilege to lead the Tata Group for the last five years and I am delighted at the opportunity to lead the Tata Group for another five years, in its next phase," Chandrasekaran, 58, said.

Chandrasekaran's tenure in the last five years saw several mergers and acquisitions by the group in the steel, aviation and digital sectors and a complete exit from the cellular telephony industry. One of the first tasks of Chandra, as he is popularly known, was to get rid of Tata Teleservices which lost around Rs 60,000 crore in paying back bank loans apart from paying the AGR dues till date. Tatas sold the mobile phone business to Bharti Airtel while retaining debt and other liabilities of the company.

In one of the biggest acquisitions till date, Tata Steel acquired Bhushan Steel in May 2018 for Rs 35,200 crore after the company defaulted to bank loans and sent for the insolvency process. Tata Steel has managed to turn around the company which has been renamed as Tata Steel BSL. Tata Steel tried its best to sell its European business to ThyssenKrupp in the last two years but failed to close the deal after objections from several quarters.

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Tata Teleservices Okays Conversion of Interest On AGR Dues Into Equity

Tata Teleservices Okays Conversion of Interest On AGR Dues Into Equity

Tata Teleservices has okayed conversion of interest payable on deferred AGR due into equity New Delhi: As if taking cue from Vodafone Idea, Tata Teleservices (Maharashtra) Limited (TTML) on Tuesday informed that it has approved the conversion of interest payable on its deferred adjusted gross revenue (AGR) due into equity. Once the conversion is done, the government holding is expected to be…

[athibanenglish]

Tata Teleservices to convert interest amount on AGR dues into equity; govt holding seen at 9.5%

Tata Teleservices to convert interest amount on AGR dues into equity; govt holding seen at 9.5%

NEW DELHI: After Vodafone Idea, Tata Teleservices (Maharashtra) on Tuesday said it will opt for conversion of the interest amount on AGR dues into equity and post conversion, the government’s holding in the company is expected to be around 9.5 per cent. The announcement of Tata Teleservices (Maharashtra) came within hours of Voda Idea also deciding to opt for converting the interest amount on AGR…

[divyabhashkar]

Tata Teleservices to convert interest amount on AGR dues into equity; govt holding seen at 9.5%

Tata Teleservices to convert interest amount on AGR dues into equity; govt holding seen at 9.5%

NEW DELHI: After Vodafone Idea, Tata Teleservices (Maharashtra) on Tuesday said it will opt for conversion of the interest amount on AGR dues into equity and post conversion, the government’s holding in the company is expected to be around 9.5 per cent. The announcement of Tata Teleservices (Maharashtra) came within hours of Voda Idea also deciding to opt for converting the interest amount on AGR…

[shlipayadavblog]

Tata Teleservices opts for equity conversion; govt may get 9.5% stake

Tata Teleservices on Tuesday said that it will opt for conversion of full amount of interest adjusted gross revenue dues (AGR) into equity. Following conversion, it is expected that the government will hold approximately 9.5% of the total outstanding shares of the telco, the company said in a regulatory filing.

The company's decision comes on the same day when Vodafone Idea took a similar decision.

The Net Present Value (NPV) of this interest is expected to be approximately Rs 850 crore as per the telco, subject to confirmation by the DoT.

[techiecynews]

Setback of telecommunications companies, the Supreme Court rejects the recalculation of contributions (AGR) due to the government

Setback of telecommunications companies, the Supreme Court rejects the recalculation of contributions (AGR) due to the government

In a setback for the telecommunications companies, Vodafone Idea, Tata Teleservices and Bharti Airtel, the Supreme Court rejected their request to recalculate the adjusted gross income (AGR) owed to the government. Telecommunications companies went to the Supreme Court last year to seek a change in the verdict of the highest court in the AGR case. Voda Idea claimed his dues were 58,000 crore and…

[moneycafe]

AGR matters back in Supreme Court: DoT, telcos differ in calculation of dues pending; apex court to decide

AGR matters back in Supreme Court: DoT, telcos differ in calculation of dues pending; apex court to decide

All the three telecom operators have petitioned the apex court seeking modification of its order so that DoT can consider their submissions regarding arithmetical errors in the calculations regarding the AGR dues. The issue of further payment and the total amount due by telecom operators Bharti Airtel, Vodafone Idea and Tata Teleservices is back in the Supreme Court, which will now have to decide…

[koliasa]

Tata Tele moves Supreme Court on AGR dues

https://koliasa.com/tata-tele-moves-supreme-court-on-agr-dues/ Tata Tele moves Supreme Court on AGR dues - https://koliasa.com/tata-tele-moves-supreme-court-on-agr-dues/ Mumbai/New Delhi: Tata Teleservices has moved the Supreme Court appealing for a ...

[digitalfime]

Tata Tele moves SC seeking AGR dues recalculation

Tata Tele moves SC seeking AGR dues recalculation

Mumbai: Tata Teleservices has moved the Supreme Court appealing for a recalculation of adjusted gross revenue (AGR) dues. The telco follows Bharti Airtel and Vodafone Idea (Vi) in approaching the apex court to highlight alleged errors in the telecom department’s calculations. TTSL told the court that the demands of the Department of Telecommunications exceeded its deemed revenue and added up to…

[news-chhondomela]

Telecom: SC to pronounce verdict on Tuesday on AGR-related issue

Telecom: SC to pronounce verdict on Tuesday on AGR-related issue

By: PTI | New Delhi | Published: August 31, 2020 10:33:21 pm

The top court had in October 2019 delivered the verdict on the AGR issue for calculating government dues of telecom companies, such as Vodafone Idea, Bharti Airtel and Tata Teleservices, as licence fee and spectrum usage charges.

The Supreme Court is scheduled to pronounce its…

[col-life23]

SC gives Voda, Airtel, Tata Tele 10 years to pay AGR dues

SC gives Voda, Airtel, Tata Tele 10 years to pay AGR dues

The Supreme Court on Tuesday granted 10 years to telecom firms such as Vodafone Idea, Bharti Airtel and Tata Teleservices for paying the Adjusted Gross Revenue (AGR)-related dues to the department of telecommunications with certain conditions.

The apex court asked the telcos to pay 10 per cent of the AGR-related dues by March 31, 2021.

A bench headed by Justice Arun Mishra held that the demand…

[hulnews]

SC to Pronounce Verdict on AGR-related Issue Tomorrow

SC to Pronounce Verdict on AGR-related Issue Tomorrow

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The Supreme Court of India. (Image Credit: PTI)

The top court had in October 2019 delivered the verdict on the AGR issue for calculating government dues of telecom companies, such as Vodafone Idea, Bharti Airtel and Tata Teleservices, as licence fee and spectrum usage charges.

PTI

Last Updated: August 31, 2020, 10:48 PM IST

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