SC 'worried' that AGR dues will be wiped out in telcos' insolvency process

'Without paying for the horse, telecos are taking a ride,' says court about bankrupt companies.

Expressing concern over non-payment of the Adjusted Gross Revenue (AGR) related dues by the telecom companies which are under insolvency, the Supreme Court on Thursday said "without paying for the horse, telecos are taking a ride".

The apex court said it is worried that almost the entire AGR dues will be wiped out in the IBC process.

The top court wondered can a liability like AGR related dues be wound up, under the guise of selling spectrum under the Insolvency and Bankruptcy Code (IBC).

A bench of Justices Arun Mishra, S Abdul Nazeer and M R Shah said spectrum trading is altogether different