The department of telecommunications (DoT) has withdrawn its orders asking three non-telecom public-sector companies—GAIL (India) Ltd, Power Grid Corp. of India Ltd and Oil India Ltd to clear adjusted gross revenue (AGR)-related dues. This comes as a huge relief for the companies as the DoT estimates of the dues stood at around ₹4 trillion.
According to stock exchange filings by the three companies, GAIL received demand notices for 2001-02 to 2018-19 from DoT with AGR dues worth ₹1.83 trillion. For Power Grid and Oil India, the amounts stood at ₹40,000 crore (FY07-FY19) and ₹48,489 crore (FY08-FY19), respectively.
“The company has received letter from the department of telecommunications towards withdrawal of all provisional demand notices issued to GAIL. Consequent upon the withdrawal of claims, nothing remains due to DoT by GAIL in the matter of AGR,” it said on Wednesday.
