The Supreme Court has adjourned the hearing in the AGR (adjusted gross revenue) case to August 17, 2020. It has given directions to the government, Jio and Reliance Communications’ resolution professional to submit necessary documents to bring to light who is liable for AGR dues for RCOM’s spectrum that was shared with Jio.
The apex court has asked for details of the spectrum sharing agreements entered into by all insolvent companies.
On the treatment of dues related to spectrum under the Insolvent and Bankruptcy Code (IBC), the Supreme Court observed that dues arising out of the use of natural and public resources like spectrum cannot be treated merely as operational dues. It is a matter of public money.