Telecom operators are collectively liable to pay Rs 1.47 lakh crore in
AGR dues as per the Supreme Court order dated October 24, 2019. The
deadline to pay the amount ended on January 23, but none of the
telecom operators except Reliance Jio paid the amount. State-owned
BSNL and MTNL also did not pay the dues.
The telecom Cos of India ...Airtel, Vodafone, Idea, Reliance ... (and some PSUs imitating them) were not paying the Licence Fee ever since the grant of License since 1994 onwards (by Congress regime). In 1999, the Govt of the day (was it Arun Shourie, their Trojan horse, even then?) provided them a face-saving and an alibi, by signing a fresh agreement to move to 'gross revenue sharing' method, instead of the fixed Licence Fee. This probably was a clever ploy to dodge the system. So, expectedly, disputes raised as to what constitutes revenue, and not a penny paid; despite the fact that the Agreement (these are drafted by Law Min) was crystal clear. So, successfully consuming decades, they could manage to get an order passed by the TDSAT (the appellate tribunal), to remove several incomes from the revenue; to pay by a percentage of revised 'adjusted gross revenue' (AGR) the calculation, each year. But instead of paying up, challenged this TDSAT order also in higher courts; and to their bad luck, it finally landed up before the SC bench of Justice Arun Mishra, MR Shah (my heroes 😊, whom the Congi ecosystem abuses). Expectedly, the bogus petitions were dismissed, on 24th Oct 2019. To drag further, the guys went for a review, which too was rejected on 16th January 2020; ordering them to pay these 'statutory' dues by 23rd January. Having exhausted all options, did they pay up? Nothing.
See, meanwhile, they managed to get an order passed by a petty Desk Officer in DOT, putting a freeze on SC's order😫. And you thought, Nirbhaya's rapists are the only guys cooking a snook at the judiciary? Do you know the sums involved? It's a whopping ₹1:47 LAKH Crores 😟 (₹1,47,000,00,00,000/- excl. interest). AGR share dues against Airtel 22000 crores; Vodafone 20,000 crores; R.Com 16,000 crores; BSNL 2100 crores; MTNL 2500 crores ... etc etc. In addition, the Mobile Telephone Operators (not other telcos) were also bound to pay spectrum usage charges (SUC) for use of radio frequency spectrum allotted to them in 22 different circle; which also they didn't pay. Adding that Bharti (Airtel) alone owes to the Govt ₹36000 crores 😯.
And, who are representing them in SC ? ..... you guessed it right, they're 86 top lawyers, led by Kapil Sibbal, Manu Singhvi, gangs.
This noncompliance of Court order came up before the SC today, who were shell-shocked at the Co's audacity, to disobey, and sabotage even their Order. Justice Mishra is in pain and anguish; has expressed his frustration saying, has the Court lost any value? Asked ASG, was any action taken against the Desk officer who over-ruled SC? Has issued Contempt notice, asking all the CMDs/MDs of the Cos to be personally sitting in the court on 17th March, if full payment is not made by that date. Just feel the anguish, in the following Order ....
"This case projects a very disturbing scene; the Cos has violated the SC order in Pitch & Substance. A Desk Officer has the temerity to issue directions to Accountant General, another constitutional authority, not to insist on payment, pursuant to this Court's Order ....".
Now friends, why I'm writing this post is, to raise some crucial issues: Often we see posts saying why is Govt into business, why not sell everything and let Pvt sector manage, ... etc etc. I believe some of these articles are written by vested interests or those with superficial knowledge; just influenced by bookish 'capitalist' ideas. Personally, I'm against any 'ism' be it 'capitalism' or 'communism'. See, in this case, Govt only issued Licenses (to their friends); for spectrum usage. The value of their private Cos (not the listed ones), based on these licenses, sky-rocketing beyond belief and they became billionaires overnight. Same thing happened in Coal-mine licenses; in fact, that has been a pattern for any field. Who gained, at whose cost? This's crony capitalism; the modus Operandi of any corrupt Govt. The problem is not socialism or capitalism. It's the corrupt Govts at the root; and the stupid people, who don't realise the dangers of corruption, but keep electing the looters.
Today Sunil Bharti Mittal says he will pay up ₹10,000 crores within 6 days 😯; the balance before March 17, the day he's been summoned to court if fails to pay.
In another case, Mukesh Ambani is also not paying up the Govt share of Royalties on extracting oil from seabed; for decades (the famous gold plating allegation, by his brother, to the tune of $5 billion); dragging to courts, in arbitration, whatnot. Today, Govt has decided to refer another disputes with him, to an expert panel, for recovery of $380 million (not rupees) for something euphemistically termed as "penalty for unfinished minimum work program in blocks awarded in previous exploration rounds". Damn it, why not call it simple cheating, instead? At least his Reliance not been awarded exploration contracts by ONGC's new round of bidding of its 30 blocks recently; and he's being denied permission to sell his refining assets to Saudi Aramco, etc ( minute details may vary).
Nutshell, the point is, Modi is trying to recover from all, including the Banking fraudsters (52 lakh crores 🤯). So he's the fall guy if all these recoveries affect the markets and the economy. But who created the problems? Who benefitted? Isn't it the same guys shouting loudest, blaming him for the 'mess'? If no Licence Fee/SUC/Royalty/Loans were to be recovered, these could've been awarded to you, anybody, by draw of lots? Clearly troubled times ahead. I've no easy answers. Do you?...
If you want to make sure that you make a profit on a daily basis, then remember to use the stock recommendations for today and you are going to be a part of elite club which makes a profit in the market on daily basis.
The telecom Cos of India ...Airtel, Vodafone, Idea, Reliance ... (and some PSUs imitating them) were not paying the Licence Fee ever since the grant of License since 1994 onwards (by Congress regime). In 1999, the Govt of the day (was it Arun Shourie, their Trojan horse, even then?) provided them a face-saving and an alibi, by signing a fresh agreement to move to 'gross revenue sharing' method, instead of the fixed Licence Fee. This probably was a clever ploy to dodge the system. So, expectedly, disputes raised as to what constitutes revenue, and not a penny paid; despite the fact that the Agreement (these are drafted by Law Min) was crystal clear. So, successfully consuming decades, they could manage to get an order passed by the TDSAT (the appellate tribunal), to remove several incomes from the revenue; to pay by a percentage of revised 'adjusted gross revenue' (AGR) the calculation, each year. But instead of paying up, challenged this TDSAT order also in higher courts; and to their bad luck, it finally landed up before the SC bench of Justice Arun Mishra, MR Shah (my heroes 😊, whom the Congi ecosystem abuses). Expectedly, the bogus petitions were dismissed, on 24th Oct 2019. To drag further, the guys went for a review, which too was rejected on 16th January 2020; ordering them to pay these 'statutory' dues by 23rd January. Having exhausted all options, did they pay up? Nothing.
See, meanwhile, they managed to get an order passed by a petty Desk Officer in DOT, putting a freeze on SC's order😫. And you thought, Nirbhaya's rapists are the only guys cooking a snook at the judiciary? Do you know the sums involved? It's a whopping ₹1:47 LAKH Crores 😟 (₹1,47,000,00,00,000/- excl. interest). AGR share dues against Airtel 22000 crores; Vodafone 20,000 crores; R.Com 16,000 crores; BSNL 2100 crores; MTNL 2500 crores ... etc etc. In addition, the Mobile Telephone Operators (not other telcos) were also bound to pay spectrum usage charges (SUC) for use of radio frequency spectrum allotted to them in 22 different circle; which also they didn't pay. Adding that Bharti (Airtel) alone owes to the Govt ₹36000 crores 😯.
And, who are representing them in SC ? ..... you guessed it right, they're 86 top lawyers, led by Kapil Sibbal, Manu Singhvi, gangs.
This noncompliance of Court order came up before the SC today, who were shell-shocked at the Co's audacity, to disobey, and sabotage even their Order. Justice Mishra is in pain and anguish; has expressed his frustration saying, has the Court lost any value? Asked ASG, was any action taken against the Desk officer who over-ruled SC? Has issued Contempt notice, asking all the CMDs/MDs of the Cos to be personally sitting in the court on 17th March, if full payment is not made by that date. Just feel the anguish, in the following Order ....
"This case projects a very disturbing scene; the Cos has violated the SC order in Pitch & Substance. A Desk Officer has the temerity to issue directions to Accountant General, another constitutional authority, not to insist on payment, pursuant to this Court's Order ....".
Now friends, why I'm writing this post is, to raise some crucial issues: Often we see posts saying why is Govt into business, why not sell everything and let Pvt sector manage, ... etc etc. I believe some of these articles are written by vested interests or those with superficial knowledge; just influenced by bookish 'capitalist' ideas. Personally, I'm against any 'ism' be it 'capitalism' or 'communism'. See, in this case, Govt only issued Licenses (to their friends); for spectrum usage. The value of their private Cos (not the listed ones), based on these licenses, sky-rocketing beyond belief and they became billionaires overnight. Same thing happened in Coal-mine licenses; in fact, that has been a pattern for any field. Who gained, at whose cost? This's crony capitalism; the modus Operandi of any corrupt Govt. The problem is not socialism or capitalism. It's the corrupt Govts at the root; and the stupid people, who don't realise the dangers of corruption, but keep electing the looters.
Today Sunil Bharti Mittal says he will pay up ₹10,000 crores within 6 days 😯; the balance before March 17, the day he's been summoned to court if fails to pay.
In another case, Mukesh Ambani is also not paying up the Govt share of Royalties on extracting oil from seabed; for decades (the famous gold plating allegation, by his brother, to the tune of $5 billion); dragging to courts, in arbitration, whatnot. Today, Govt has decided to refer another disputes with him, to an expert panel, for recovery of $380 million (not rupees) for something euphemistically termed as "penalty for unfinished minimum work program in blocks awarded in previous exploration rounds". Damn it, why not call it simple cheating, instead? At least his Reliance not been awarded exploration contracts by ONGC's new round of bidding of its 30 blocks recently; and he's being denied permission to sell his refining assets to Saudi Aramco, etc ( minute details may vary).
Nutshell, the point is, Modi is trying to recover from all, including the Banking fraudsters (52 lakh crores 🤯). So he's the fall guy if all these recoveries affect the markets and the economy. But who created the problems? Who benefitted? Isn't it the same guys shouting loudest, blaming him for the 'mess'? If no Licence Fee/SUC/Royalty/Loans were to be recovered, these could've been awarded to you, anybody, by draw of lots? Clearly troubled times ahead. I've no easy answers. Do you?...
If you want to make sure that you make a profit on a daily basis, then remember to use the stock recommendations for today and you are going to be a part of elite club which makes a profit in the market on daily basis.
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