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New Delhi, Jun 18: Vodafone Idea on Thursday told the Supreme Court that it has incurred Rs 1 lakh crore losses as it insisted it is not in a position to furnish bank guarantees.

A bench comprising Justices Arun Mishra, S. Abdul Nazeer, and M.R. Shah, taking up the adjusted gross revenue (AGR) matter through video conferencing, directed the telecom companies to submit their financial documents and books for the last 10 years.

Asking Vodafone if it was a foreign company, the bench said that how can the company say it would not furnish any bank guarantee.

"What if you fly away overnight in future without paying anything?" it asked.

Senior advocate Mukul Rohatgi, representing Vodafone Idea, denied his client is a completely foreign firm and cited before the bench its tie-ups and investments.

Vodafone owes over Rs 58,000 crore as AGR dues and so far, has paid close to Rs 7,000 crore.

Rohatgi contended before the court that the telecom company is in a tough situation, and cannot furnish any fresh bank guarantee, as profits have eluded the company in past many quarters. He submitted before the bench that Rs 15,000 crore bank guarantees are lying with the government, and his client's losses are over Rs 1 lakh crore.

"I cannot offer any more surety," he informed the bench.

Justice Mishra noted that this is public money and these dues should be recovered. "Do not tell us that you will pay if you were to make profits... the money must come," he noted.

Justice Shah observed that the telecom industry is the only industry which earned during the Covid-19 pandemic. "After all, this money will be used for public welfare", he said.

Rohatgi argued that his client would have to fold up if orders were issued to clear dues tomorrow. "11,000 employees will have to go without notice, as we cannot pay them," he added.

Senior advocate Abhishek Manu Singhvi, appearing for Bharti Airtel, contended before the court that out of Rs 21,000 crore AGR dues, the company has already deposited a sum of Rs 18,000 crore.

He argued that his client has given a bank guarantee, in excess of demand, to DoT, and supported the proposal for phased repayment of remaining AGR dues. He insisted that the company needs to sit down with the government and calculate the dues. Airtel owes Rs 25,976 crore after paying Rs 18,000 crore, as per the government.

Senior advocate Arvind Datar, representing Tata Telecom, informed the bench that his client has paid Rs 6,504 crore in AGR dues so far, and furnishing a bank guarantee may adversely impact investments in the sector.

The total AGR dues are close to Rs 1.5 lakh crore.

The top court will now take up the matter in the third week of July.

New Delhi, Jun 29: Witnessing azure skies and breathable air for the last three months, Delhi on Monday recorded deterioration in its air quality, with particulate matter with diameter of 2.5 and 10 microns -- too small to be filtered out of the human body -- standing at 52 and 297 micrograms per cubic respectively.

Gufran Beig, Project Director of System of Air Quality Weather Forecasting and Research (SAFAR), said that the sudden spike in air pollution is due to a mild dust storm blowing from Rajasthan.

"Since the wind direction is changing and moist air is coming in, the air quality in Delhi will become better by tomorrow," Beig told IANS.

Central Pollution Control Board (CPCB) data showed that the overall air quality near Delhi Technical University (DTU) area stood at 326 micrograms per cubic, followed by 308 at Narela and 307 at Mundka.

Out of 36 stations, the AQI in as many as 30 stations was above 200 micrograms per cubic till 1 pm on Monday.

The System of Air Quality Weather Forecasting and Research categorises air quality in the 0-50 range as good, 51-100 as satisfactory, 101-200 as moderate, 201-300 as poor, 301-400 as very poor, and above 400 as severe.

According to SAFAR's website, "PM 10 (coarser dust particle) is the lead pollutant. AQI is likely to improve to moderate category by tomorrow, and further improvement is expected by July 1."

Researchers indicated that PM 10 and PM 2.5 will be 170 and 47 micrograms per cubic on Tuesday.

With no vehicles plying on the roads or industries shut due to the lockdown since March 25, Delhi's air quality had improved drastically.

According to a study conducted by the Indian Institute of Technology (IIT), Delhi, if the low levels of air pollution reached during the lockdown period are maintained, India's annual death toll could reduce by 6.5 lakh.

New Delhi, Mar 14: Excise duty on petrol and diesel was on Saturday hiked by ₹3 per litre as the government looked to mop up gains arising from fall in international oil prices.

Special excise duty on petrol was hiked by ₹2 to ₹8 per litre incase of petrol and to Rs 4 incase of diesel, an official notification said.

Additionally, road cess on petrol was raised by ₹1 per litre each on petrol and diesel to ₹10.

The increase in excise duty would in normal course result in a hike in petrol and diesel prices but most of it would be adjusted against the fall in rates that would have necessitated because of slump in international oil prices.