NEW DELHI: In a big relief to many PSUs which were directed by the Centre to pay over Rs 4 lakh crore on the basis of the Supreme Court’s verdict on Adjusted Gross Revenue, the court on Thursday said the demand is not correct and should be withdrawn while also indicating that it may consider offering relief to telecom companies by giving them some time to clear dues of Rs 1.69 lakh crore.
The court slammed the department of telecom for raising the demand with PSUs and threatened to initiate contempt proceedings to pu nish the officials concerned for misusing its order. It directed the department to reconsider its decision within three days.
The Supreme Court, however