NEW DELHI: Reliance Jio told the Supreme Court on Tuesday that it has already paid Rs 195 crore in AGR-related dues which included spectrum sharing charge of Reliance Communications (RCom).
It said there is no question of one operator paying the adjusted gross revenue (AGR) related dues of another firm, as suggested by the apex court earlier, and it has cleared all its dues.
The billionaire Mukesh Ambani-led Jio told the apex court however, that if still any amount remains pending from sharing of spectrum of RCom, it is willing to pay that.
A bench of Justices Arun Mishra, S Abdul Nazeer and M R Shah which would continue hearing in the matter on Wednesday, was told by senior advocate Harish Salve, appearing for Jio and Committee of Creditors (CoC) of RCom, that it would be premature to decide if spectrum can be sold or not under Insolvency and Bankruptcy Code (IBC).
He said that only when the RCom resolution applicant moves the department of telecom (DoT) for spectrum sale, the issue will be decided.
The bench observed that there are huge AGR dues payable and it cannot let it go.
"We had directed payment of AGR dues within a certain period but the government is seeking 20 years' time, what will happen if companies go into insolvency by then. We are fully conscious of the scope of proceedings, we will not exceed our power," it said. The top court said it would decide all the legal issues involved in the matter and would do it conclusively.
Salve argued that the insolvency proceedings against RCom were triggered by Ericsson, which could not be withdrawn even after the Swedish telecom equipment maker was paid its dues. He said the CoC has accepted a resolution plan which envisages auction of RCom spectrum subject to the DoT nod. Salve said that UV Asset Reconstruction Company (UVARC) is the top bidder for RCom, which was earlier led by Anil Ambani, and it is not fronting for anyone.
He said Jio is not interested in bidding for RCom and the UVARC's equity comes from public sector banks (PSBs) and insurance companies.