In the 14-year old 92,000 crore telecom dispute, the Supreme Court has in a major blow ruled in favor of the government stating that India’s telecom operators will have to include non-core revenue to calculate dues it owes to the government, setting their share prices tumbling. This outcome in favour of the government will also strengthen its case for a one-time spectrum charge. Although spectrum charges weren’t part of the case in the Supreme Court, a favourable order on the definition of adjusted gross revenue will strengthen the government’s bid to recover these dues.
The 92,000 crore Telecom dispute
The Supreme Court ruled that India’s telecom operators will have to include non-core revenue to calculate levies, dealing a crippling blow to the bruised industry that stares at dues and penalties worth thousands of crore.
The government’s definition of adjusted gross revenue will include most operations o...
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