No plan under consideration to bail out private telcos under financial loss: Sanjay Dhotre

By: |
March 17, 2021 4:08 PM

Also, no proposal is under consideration at present on the allocation of 5G spectrum to state-owned Bharat Sanchar Nigam Ltd, Minister of State for Communications Sanjay Dhotre said in a written reply to the Lok Sabha.

The Department of Telecom as well as operators are bound by the orders and direction of the Supreme Court, he added.

There is no plan currently under consideration to bail out private telecom operators that are under financial loss, Parliament was informed on Wednesday.

Also, no proposal is under consideration at present on the allocation of 5G spectrum to state-owned Bharat Sanchar Nigam Ltd, Minister of State for Communications Sanjay Dhotre said in a written reply to the Lok Sabha.

“At present, there is no plan under consideration to bail out private Telecom Service Providers (TSPs) which are under financial loss,” Dhotre said replying to a question on whether the government has any plans for bailing out such telcos.

Dhotre said while the government has not given any exemption to the operators on Adjusted Gross Revenue (AGR) related dues, the Telecom Department, following a Cabinet nod, had filed an application seeking the permission of the Supreme Court to allow telcos to make the payment of the AGR dues in 20 years’ time (or less if they opt).

“…Supreme Court has partially allowed the Miscellaneous Application permitting Telecom Service Providers to make the payment in 10 annual equal instalments. The Hon’ble Supreme Court vide its order dated 01.09.2020 has also given several directions towards the implementation of the judgment,” Dhotre noted.

The Department of Telecom as well as operators are bound by the orders and direction of the Supreme Court, he added.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Northern Arc raises Rs 40-cr debt from KMB to support micro entrepreneurs
2Delhi lockdown: Flipkart, Amazon suspend orders for non-essential goods following government order
3Paytm, India’s most-valued startup, expands ESOP scheme to USD 604 million