Jump to content

Mukesh Ambani’s Reliance Jio expected to pay Anil Ambani’s RCommm’s dues of Rs.31,000 crores to Department of Telecom after Supreme Court’s intervention

kevinUsa

By kevinUsa
in Discussions

 Share

Recommended Posts

kevinUsa LEGEND

kevinUsa

Posted
Posted
  
 
 
 
 
 
 
PGurus - Insights for the Global Indian
 
 
 
 
 

Mukesh Ambani’s Reliance Jio expected to pay Anil Ambani’s RCommm’s dues of Rs.31,000 crores to Department of Telecom after Supreme Court’s intervention

When Mukesh Ambani acquired RComm's assets, he acquired its liabilities too and now Reliance Jio group must pay Rs.31,000 cr

By
 Team PGurus
 -
August 14, 2020
 
 
 
 
 
When Mukesh Ambani acquired RComm's assets, he acquired its liabilities too and now Reliance Jio group must pay Rs.31,000 cr When Mukesh Ambani acquired RComm's assets, he acquired its liabilities too and now Reliance Jio group must pay Rs.31,000 cr

August 14, Friday – is a bad day for Mukesh Ambani. He has been caught by the Supreme Court for evading to pay the dues of his debt-ridden brother Anil Ambani’s company which currently owes more than Rs.31,000 crores to the Department of Telecom. During the arguments on the controversial Telecom AGR (Adjusted Gross Revenue) non-payment issue, the Supreme Court found that Mukesh Ambani’s Reliance Jio is using the spectrum of Anil Ambani’s Reliance Communications (RComm) since 2016. Anil’s RCommm is almost taken over by Mukesh at zero value by taking over its assets on the condition that it will also take up its liabilities.

Reliance Jio recently got a bumper of more than Rs.1.5 lakh crores by selling some portions of itself to many multinational companies such as Facebook, Google, etc. Here the role of Government is also dubious as it did not collect the dues from these big telecom players. Even after winning the case in the Supreme Court, we have seen what all dubious activities are done by the Narendra Modi Government by not collecting dues from the Ambanis, Birla, Mittal, Tata Group, etc. The strange thing is that even Opposition parties are not criticizing the Government for these dubious activities in helping Corporates!

The bench of Justices Arun Mishra, S Abdul Nazeer and M R Shah asked the counsels of Reliance Jio and RComm to place their spectrum sharing agreements on record.

The Supreme Court on Friday sought details of the spectrum sharing pact between Reliance Communications (RComm) and Reliance Jio and said as to why the company using the spectrum of the other firm cannot be asked to pay the Adjusted Gross Revenue (AGR) related dues to the government.

“Spectrum is government property, not private, and anyone using it is liable to pay the dues”, the apex court said. The bench of Justices Arun Mishra, S Abdul Nazeer and M R Shah asked the counsels of Reliance Jio and RComm to place their spectrum sharing agreements on record.

The bench also asked the Department of Telecom (DoT) to file the requisite documents in this regard and posted the matter for further hearing on August 17.

During the hearing, senior advocate Shyam Divan, appearing for the resolution professional for RComm, said that the government has been informed about the spectrum sharing agreement which was done in 2016 and the required fees have been paid. He said that a part of the spectrum was lying idle with the company for a while and it has not been traded but has only shared.

The bench then said as to why it cannot ask Reliance Jio to pay the AGR related dues on behalf of RComm as the outstanding amount arises from the spectrum use and Jio has been using it for three years. When Divan stated that the lenders have approved UV Asset Reconstruction Company’s resolution plan for RComm, the bench said it wanted to know who was backing the UV ARC.

Vodafone Idea has to pay a balance of Rs 50,399 crores, while Bharti Airtel’s outstanding amount is Rs 25,976 crores, Solicitor General Tushar Mehta said during a hearing on July 20.

Senior advocate K V Vishwanathan, appearing for Jio, said that the company has already paid its AGR related dues but on this question, he needs to seek instructions. He tried to explain to the bench the spectrum sharing and spectrum usage guidelines, and said that the company was following all the rules and paying the requisite fees.

The bench said again as to how Reliance Jio can escape the liability when it is using the spectrum and sharing the revenue?

The top court is expected to allow 15 years’ time for telecom firms to pay the dues, rejecting the Government’s 20-year offer. Vodafone Idea has to pay a balance of Rs 50,399 crores, while Bharti Airtel’s outstanding amount is Rs 25,976 crores, Solicitor General Tushar Mehta said during a hearing on July 20.

Now Supreme Court is looking into the dues of bankruptcy-facing firms like Anil Ambani’s RComm (whose spectrum is being used by Mukesh Ambani’s Jio), Videocon and former Finance Minister Chidambaram’s bribery scam-hit Aircel.

With PTI inputs…

Team PGurus
 
 
We are a team of focused individuals with expertise in at least one of the following fields viz. Journalism, Technology, Economics, Politics, Sports & Business. We are factual, accurate and unbiased.
 
 
 
 
 
 

26 COMMENTS

  1. dbc028427e22bc83541d06efcb68060d?s=50&d=Sharma kowthaAugust 16, 2020 at 5:08 PM

    There is no point in blaming Telcos. They should pay the existing taxes and old arrears.Supreme court is correct in pointing out the non payment of spectrum arrears when Jio took over Spectrum of Rcom. Why C&AG has not pointed this short collection in its annual reports by to the parliament. Who is responsible for this omission..such short collection amounting to thousands of crores. Now coming to telephone and datacharges are concerned they are reasonable in comparison to rates prevailing in other countries
    Let us make sure that we have 4 big companies so that the rates could be competitive without leading to monopolistic tendencies.The government should regulate these companies so that public needs are met at most competitive prices

  2. 2b19b7afacef40fd61a362d671a1ed6f?s=50&d=VIRAL KELAWALAAugust 16, 2020 at 1:52 PM

    Really Really Thank you Supreme court
    I bow to judiciary

  3. 368d461fc7c758c143445dcce0d2bbc0?s=50&d=Pratul GuptaAugust 16, 2020 at 11:49 AM

    Ask him to pay the vendors also who worked for him and his brother

  4. 368d461fc7c758c143445dcce0d2bbc0?s=50&d=Pratul GuptaAugust 16, 2020 at 11:46 AM

    Ask the big brother to pay the vendors who worked for Anil Ambani and left in lurch without any payment I have around 7.5 million still pending with the Anil’s company and around 2 million with Mukesh Ambani jio

  5. baa48d2b53bab00b6d5fa59ea00ef55d?s=50&d=Anuj SharmaAugust 16, 2020 at 7:44 AM

    What a journalism. Hatsoff to you people, i really don’t subscribe to any news pages but this one particular articles gives anyone a goosebumps. And for the people who is paying sympathy towards Airtel and other telecom companies, where were you when they were looting public? How come they have made unlimited calling, daily data, Messages, caller tunes suddenly in Rs 149 only? As far as i know that we used to pay a hectic of amount for data and that was also bit low. Hope the govt wont waste this amount of 1.5 lac crores in total.

  6. b2753c6c8840b18118146d85dc61f5ca?s=50&d=AshishAugust 16, 2020 at 6:57 AM

    This article is Absolutely illetrate people work.

    Government is trying to give time of 20 years to telecos so that they can pay in installment.

    Which corporate house can pay 30000 crore to 60000 crore in a day.

    They will go bankrupt as already told by vadafone idea and lakhs will loose job.

  7. 09e1060242d4de229494b1b329dcbd12?s=50&d=VeerappanAugust 16, 2020 at 6:10 AM

    15 years time to repay? Are you serious?
    We all know they have dominated the market by their nasty game and just have their shares bought by International companies and have abundant funds readily available. Why dont we give them just 6 months?
    Does a common man get 15 years to repay in such circumstances?
    I know they create job opportunities but they are currently doing exceptionally well with their financial status.

  8. 0e2b568fa11e097f0e1d12a0dc1e93f1?s=50&d=RanjanAugust 16, 2020 at 1:02 AM

    Horse cannot be bolted from both the sides. You want to control the tariff, you want to share the revenue, you want to have absurdly high fee for the spectrum. All in all you want to screw every sector in the country. Allow the businesses to grow. They generate jobs and provide service. The quality of the service is so poor. Lowest tariff in the world is nothing to cheer about. It does not allow for the growth in the sector. Government must only have control to the extent that public is not exploited and leave rest to the market forces. So many companies in telecom have vanished. Daily flip flop in the policy in automobile.. Allow someone to grow for the sake of this country…

    • eebad8933fa8b82ad67d701e67a69de7?s=50&d=Narayanan IyerAugust 16, 2020 at 7:40 AM

      Mr. Ranjan, You are working for which Company? Where are your Blood Relatives Working?
      What is your Share Holding of Companies? You seem to be too much worried for the Corporates’ Welfare!!!

  9. e30bb504465735ec7e94465b94fb1e3c?s=50&d=ChandranAugust 15, 2020 at 10:13 PM

    Your criticism of govt in the earlier part of the article is unwarranted when you yourself say that the govt gave 20 years time to repay. The only issue is the SC wants payment in 15 years. You could’ve given the amount already paid by Vodafone to bring its outstanding to around 50000 crore from about 53000 crore. Are you also saying Govt is helping P Chidu?

  10. e30bb504465735ec7e94465b94fb1e3c?s=50&d=ChandranAugust 15, 2020 at 10:09 PM

    Your criticism of govt in the earlier part of the article is unwarranted when you yourself say that the govt gave 20 years time to repay. The only issue is the SC wants payment in 15 years. You could’ve given the amount already paid by Vodafone to bring its outstanding to around 50000 crore from about 53000 crore.

  11. e30bb504465735ec7e94465b94fb1e3c?s=50&d=K R ChandranAugust 15, 2020 at 10:07 PM

    Your criticism of govt in the earlier part of the article is unwarranted when you yourself say that the govt gave 20 years time to repay. The only issue is the SC wants payment in 15 years. You could’ve given the amount already paid by Vodafone to bring its outstanding to around 50000 crore from about 53000 crore.

  12. ab5f3b6bbbafef94653bec6f68380942?s=50&d=Ram singhAugust 15, 2020 at 8:21 PM

    Opposition will do what, the mainstream media is a pillar of the government coming to protect every time.

  13. dca1a204f49b17c97570f2418b2cff31?s=50&d=HarshaAugust 15, 2020 at 6:07 PM

    When common man purchases consumer product on loan he pays tax & also interest. In difficult time he couldn’t pay instalment he would be harassed by bank or nbfc. Here big corporate collects tax & other charges from customer for using mobile network, why do they haven’t paid government dues, they are getting 15 years to pay dues, how government or court giving time for corporates, why do Not government take action against them,

  14. 9c454a55811daa4d51b26973472be9ce?s=50&d=Narayan KurupAugust 15, 2020 at 5:52 PM

    I don’t know why people are so much worried about JIO doings.perhaps these people might be having sleepless nights

  15. 93bd41e9b0a105be75f1b41a24a81796?s=50&d=Nagendra PrasadAugust 15, 2020 at 3:14 PM

    It is tragedy for political reasons why should the corporates be allowed to go go scotfree without paying its validated dues both ruling and opposition keep their mouth shout eventually the burden falls on honest tax payers .In addition most of the corporates indulge in hawala trade,over invoicing, under invoicing using legal and pliable CAs to put under carpet,establishing overseas units,funding overseas educational chairs,..finally it is vicious circle to rape and vandaliseindian economic eco system..thereby they can be called economic terrorists

  16. 3f4d5b0822262d9986c904a1abe48a80?s=50&d=RajivAugust 15, 2020 at 3:06 PM

    Shame on these banias….looting the country…

    • 4380cb5108785d36062282a0b38fdf23?s=50&d=sumanAugust 15, 2020 at 7:33 PM

      Looters are not banias. They may be muslims,christians,hindus,parsis,sikhs,buddhists….dont blame caste for few people

  17. 3f4d5b0822262d9986c904a1abe48a80?s=50&d=Rajib mitraAugust 15, 2020 at 3:04 PM

    Thanks to supreme court and unbiased investigative media like yrs….these bania scoundrels like ambani, birla…will be caught…

  18. 722c7f7faf47567709a4f9f9f01708a8?s=50&d=RaviAugust 15, 2020 at 1:58 PM

    The correspondent should have done full investigation before writing such rubbish. First of all the RCOM dues of 31000 crores is from the start of the company. JIO has shared spectrum only from 2016 and that too only in 1800HZ.and not all the spectrum of RCOM. Secondly JIO is ahring the spectrum by paying the fees to RCOM and RCOM continues to be the owner of the spectrum. So it is the liability of the RCOM. The case will not stand in further arguments and JIO has not to pay anything.

  19. ?s=50&d=mm&r=gMukesh Ambani's Reliance Jio expected to pay Anil Ambani's RCommm's dues of Rs.31000 crores to Department of Telecom after Supreme Court's intervention | Rajasthan CoverageAugust 15, 2020 at 12:58 PM

    […] Read More […]

  20. cea899b687b758e2a9750988d35857e7?s=50&d=[email protected]August 15, 2020 at 9:37 AM

    Yes

  21. 32f515e134f8f7e9a03dc601b1e46d81?s=50&d=KarthikAugust 15, 2020 at 8:08 AM

    First of all looks like you have totally gone wrong in understanding the problem in hand. Already the destruction of several sectors has happened in the last 6 to 7 years and telecom sector is also on the verge of getting destroyed. Sunil Mittal clearly said he had invested $25 billion till now and that he will fight till last breath to save his company. Thanks to Jio entry in 2016, with free offers and very low data or calling packages the income has reduced drastically for Airtel, idea, Vodafone and the rest of the telecom players as we know have already shut shop.

    It is very easy to criticise but very very tough to build something. Only an Enterprenuer knows it and writers will not have knowledge of the pain it takes to do it.

    So the govt is doing the right thing by giving them time to pay the AGR dues. In fact the telecom companies in the last 6 months did pay up around 8k to 10k crore of the AGR dues. That’s a good start and have requested the SC to allow them to pay the remaining in 15 years. I don’t see anything wrong with this and in fact if all telcoms close down and how will the govt get the revenue and how will they recover the dues ? Let’s be practical in our thinking.

  22. d60bcb681779ef02ea4a6b67ac586079?s=50&d=Srinivasa Chakravarthy KambhampatiAugust 15, 2020 at 7:09 AM

    Funds collected by political parties make them indebted to the corporates. The corporates grease all the parties & the media as well.

    I never understood the reason for parties need of funding in hundreds of crores. Re 1.00 per head per month contribution from the people will generate Rs 138 crore per month, amounting to Rs 1656 crore per year

    No need to collect from one individual.

  23. e69b496ea9c0650bf1f865984a2d9887?s=50&d=Vinay GautamAugust 14, 2020 at 11:42 PM

    Thanks to Supreme Court to fix these Buccaneers. Shameful that Govts play dubious games to save Corporates

 

LEAVE A REPLY

 

Save my name, email, and website in this browser for the next time I comment.

By using this form you agree with the storage and handling of your data by this website. *

 
 
 
 
 
© Copyright 2015-8 - PGurus
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing
×
×
  • Create New...