The Supreme Court said it was "worried" that adjusted gross revenue ( AGR ) dues will get "wiped out" as insolvent operators are transferring spectrum under Insolvency and Bankruptcy Code ( IBC ), without paying statutory dues. The government has filed appeals in the bankruptcy court and appellate tribunal that resolution plans of both be stalled until spectrum related dues are cleared. "Banks' dues are the same as AGR dues, IBC doesn't allow AGR payment before paying banks. If all proceeds are used to satisfy AGR dues, banks won't get anything, will lose public money," said senior advocate Ravi Kadam , representing Aircel.He emphasised that the government had allowed airwaves as security. Previously, the top court had also asked for details of spectrum sharing between Reliance Jio and RCom as it seeks to ensure that AGR dues are not evaded while spectrum is shared.

Source: Economic Times August 20, 2020 11:27 UTC