SC bench led by Justice Arun Mishra begins hearing the matter related to payment adjusted gross revenue (AGR) by telecom companies.

On August 10, SC sought Centre's response on whether Telecom Spectrum can be sold/auctioned in the insolvency proceedings faced by the teleco's.

Senior Advocate Shyam Divan for RCOM Resolution Professional commences his arguments.

Senior Advocate Harish Salve appears for SBI along with Advocate Ranjit Kumar.

#agrcase #agrdues

Divan: Ericsson filed application under Section 9 for insolvency.

Ericsson agreed to settle for 550 cr instead of pending 1500 cr, he says.

@RCommCare #AGR #agrcase

Shyam Divan finishes reading out the judgment of the Supreme Court whereby it held Anil Ambani guilty of contempt for non-payment.

Justice Arun Mishra: What happened to the spectrum which was sought to be sold to Reliance Jio? Since when are the spectrums being used? #AGR

Shyam Divan: I will seek instructions on that. I have a partial answer. There is a part of my spectrum lying idle with me. I have an asset sharing contractual arrangement with Jio and that has been reported to the DOT and the fee to liberalize such spectrum has been paid.

Justice Arun Mishra: We are trying to see when the #AGR dues have come.

Senior Advocate Shyam Divan: The sharing arrangement was entered into in 2016 with Jio - 800 MHZ spectrum.

#agrdues #agrcase #jio #reliancejio

Justice Mishra: Jio is using since 2016. Why should we not ask Jio if they are using the spectrum. Who are the beneficiaries? It is shocking state of affairs if revenue is not shared and spectrum is used by somebody else.

Divan: A party has come forward with Resolution Plan.

Senior Advocate Harish Salve: I am for the Committee of Creditors. Let me please say.

Justice Mishra: We are not on that. We are examining a different issue.

Divan: There is an asset reconstruction company which has come forward with a resolution plan.

#AGR #agrdues

Justice Mishra: That is alright. We are not on that.

Divan: UVARCL is the name of the asset reconstruction company. (UV Asset Reconstruction Company Limited)

#agrdues #AGR

Justice Mishra: We want to know who is behind that.

Divan: The resolution plan put forward by UVARCL has been approved by the COC and that has been presented before NCLT. They will have to now take a decision.

Justice Mishra: We are not being told everything on black & white.

Divan: Please take up the affidavit.

Salve: As COC, I have all the details.

Justice Mishra: We want to know who is using the spectrum. Jio is using the spectrum since 2016. We have to compute the AGR dues.

@reliancejio #AGR #agrdues

Justice Mishra: The person is using is liable to make the payment. Admittedly Jio is using the spectrum.

Senior Advocate KV Vishwanathan: Viswanathan- I am appearing for Jio. You have been at receiving end from yesterday, Mr. Vishwanathan. Let us hear Mr. Vishwanathan.

Justice Mishra: Have you been avoiding liability since 2016?

Vishwanathan for Jio : I want to explain. There is no liability.

Justice Mishra: Spectrum is nobody's property. It is Government's. It is public money. It is a revenue sharing regime.

#AGR #agrdues @reliancejio

Viswanathan: I will explain in 5 minutes. There is something called "Spectrum Sharing Guidelines and Spectrum Trading Guidelines". I am sharing a part of it. AGR is paid by my side.
Justice Mishra: All the details of purchase must be before us in black and white.
#AGR #agrdues

Viswanathan : There is no purchase.

Justice Mishra: Everything should be in white before us and we should not be put to dark about anything. AGR is independent, not like this.

About revenue-sharing regime, we will lay down the law.

#AGR #agrdues

Justice Mishra: Salve Saab, we have a question, when sovereign rights are transferred to somebody, can secured creditor take precedence? Public has a right over it. You can earn anything after making such payments to the Government.

Save: What my lords are saying is this - that payment for natural resources should be on a different footing.

Justice Mishra: Yes.

#AGR #agrdues

SC Adjourns hearing to Monday.

Directions to the Government, Jio and RCOM Resolution Professional to produce necessary documents to bring to light who would be liable for AGR dues of RCOM.

@Rcommcare

#AGR #agrdues

Lawyers now saying that documents cannot be filed soon as there are two holidays in before Monday.

Justice Mishra: All the companies who are in liquidation will have to address us.

#AGR

Matter now listed on Monday at 3 PM.

Documents between RCOM and JIO to be placed on record.

Similar directions for similar companies which are in liquidation like Aircel and Videocon.

@rcommcare @reliancejio @Aircel @VMobi
#AGR