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International Breweries Plc (INTBRE.ng) 2014 Annual Report

first_imgInternational Breweries Plc (INTBRE.ng) listed on the Nigerian Stock Exchange under the Beverages sector has released it’s 2014 annual report.For more information about International Breweries Plc (INTBRE.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the International Breweries Plc (INTBRE.ng) company page on AfricanFinancials.Document: International Breweries Plc (INTBRE.ng)  2014 annual report.Company ProfileInternational Breweries Plc is a brewery in Nigeria which brews, packages and markets a range of beer and non-alcoholic malt beverages. The company is known for its beer sold under the Trophy brand name and non-alcoholic malt drink sold under the Betamalt brand name, namely Trophy Lager, Trophy Black and Betamalt malt drink. Other brands packaged and marketed by International Breweries Plc include Castle Milk Stout, Castle Lager, Redds, Hero, Grand Malt and Voltic Water. The company’s head office is in Osun State, Nigeria and its distribution centres are in Ibadan, Lagos and Ilorin. International Breweries Plc is listed on the Nigerian Stock Exchangelast_img read more

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3 reasons why I’d forget buy-to-let property and buy FTSE 100 dividend stocks in 2020

first_img3 reasons why I’d forget buy-to-let property and buy FTSE 100 dividend stocks in 2020 Image source: Getty Images The appeal of buy-to-let property has declined in recent years. High prices and an uncertain outlook for the UK economy have been partly responsible for this, with buy-to-let investment returns falling compared to levels seen in the aftermath of the financial crisis.As such, now could be the right time to buy FTSE 100 dividend shares. They offer higher income returns than buy-to-let properties in many cases, while the index’s international focus may make it less risky than owning a small number of properties in the UK. And with it being relatively simple to buy FTSE 100 shares, now could be the right time to do so.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Income potentialWhile the FTSE 100’s dividend yield of 4.3% may not be all that different to the gross yields available on buy-to-let properties, it is likely to be more attractive on an after-tax basis. Buying shares through low-cost products such as a Stocks and Shares ISA means that an investor receives the same level of income on a net and gross basis. In other words, they would receive a 4.3% yield on the FTSE 100 at the present time, since no tax is levied on amounts invested through an ISA.By contrast, the yields on buy-to-let properties are subject to tax and to a range of other deductions. They include management fees, service charges and repair costs, which could mean that in many parts of the UK, the net income return on property is lower than for FTSE 100 shares. Therefore, investors looking to generate a passive income may be better off with shares rather than property.DiversityThe FTSE 100 generates around two-thirds of its income from outside of the UK. As such, it is an international index that is arguably more representative of the world economy’s performance, rather than the UK’s macroeconomic outlook.At the present time, this could prove to be highly appealing. Brexit negotiations are ongoing and are not expected to conclude until the end of 2020. This may mean that business and consumer confidence stays at low levels, which may cause the UK’s economic performance to be more muted than it otherwise would be.In such a scenario, owning stocks that operate internationally, instead of having a limited number of properties in the UK, could produce greater diversity. This could reduce risk, and offer higher long-term returns for investors.SimplicityBuying a property is still time-consuming, expensive and difficult. Buying FTSE 100 shares, on the other hand, is simple and straightforward. It can be done in a very short amount of time from the comfort of your own home, with ongoing administration being modest compared to the requirements of some buy-to-let properties that require updating and repairs.As such, now could be the right time to buy a range of FTSE 100 shares. They could offer higher returns, lower risk and greater simplicity than buy-to-let property in 2020 and beyond. Enter Your Email Address Peter Stephens has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Peter Stephens | Wednesday, 8th January, 2020 | More on: ^FTSE center_img Simply click below to discover how you can take advantage of this. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Our 6 ‘Best Buys Now’ Shares “This Stock Could Be Like Buying Amazon in 1997” I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. See all posts by Peter Stephenslast_img read more

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Aveleda’s House / Manuel Ribeiro

first_img Houses Area:  450 m² Year Completion year of this architecture project ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/46911/aveledas-house-manuel-ribeiro Clipboard Aveleda’s House / Manuel RibeiroSave this projectSaveAveleda’s House / Manuel Ribeiro ArchDaily Portugal Save this picture!+ 52 Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/46911/aveledas-house-manuel-ribeiro Clipboard “COPY” Projectscenter_img “COPY” 2007 Year:  CopyHouses•Braga, Portugal Text description provided by the architects. Designed in Braga, Aveleda´s House is a villa designed to accommodate the light as a source of inner experience of housing.Save this picture!Recommended ProductsDoorsVEKADoors – VEKAMOTION 82GlassDip-TechDigital Ceramic Printing in Art & SignageDoorsSaliceSliding Door System – Slider S20DoorsAir-LuxPivoting DoorThe basic idea of the project, parts from the concept of being located near by the old Roman city of “Bracara Augustae”, where the ancient Roman houses, the Domus, were built around an internal square. Hence all the subtlety of the house is achieved with a careful distribution. In other hand, it was searchable to provide all 6 senses of life. Save this picture!ground floor plan”… We tried to take the most of the land to create a connection with the interior of the building, leaving a view of the valley and the square that exists between the two bodies housing …”, highlights Manuel Ribeiro, architect and author of the project responsible for its implementation. Save this picture!The main body which houses the social functions of the house is situated at the same elevation of the square, assuming the sloping ground with the Hall higher, comparatively to the social part and creating a view of all from this; the social area involves open spaces, living and dining room without doors to the kitchen, and bathroom service is disguised within. Save this picture!Down below the architect created a space for a gym and an office, supplied by the natural slope of the terrain. Save this picture!section 01The private area with 4 bedrooms (1 suite and 3 rooms) and a large bathroom facility support is at the elevation of the entrance hall, raised highly in comparison of the external square, without losing the visual field. Save this picture!The suite room as also a closet, and a large bathroom, where’s a division between the uses (bath, sanitary and sinks). Save this picture!On the square that is outside, we can find the pool that reminds us the Roman “compluvium” of a “Domus”, centered on between two areas of housing. Uniting all construction towards the valley and enhanced with the Sun´s circuit along with the glass façade. Save this picture!The engine room, the locker room and a support kitchen area in a under elevation of the square, as a support for the outdoor activities. Save this picture!elevation 01″… The plasticity of the object HOUSE (purpose built) will always be overridden by the phenomenological aspect, giving identity and character to the building and so, it’s able now to provide a center of life, functional and familiar at the same time that explores the pleasure of landscapes, spacious zones and materials. Save this picture!This will not be only a “home”, but always a Domus. All the project intends to explore the human being as well as it senses: touch, sight, smell, hearing, taste and passion. These are aspects that never been neglected. On the contrary, they are always present… ”, he concludes.Project gallerySee allShow lessEuropan 10 ResultsArticlesBungoma Housing Project / Samantha Kollmeyer + Kit KollmeyerArticles Share Architects: Manuel Ribeiro Area Area of this architecture project Aveleda’s House / Manuel Ribeiro CopyAbout this officeManuel RibeiroOfficeFollowProductsGlassConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesDabasBragaHouses3D ModelingPortugalPublished on January 19, 2010Cite: “Aveleda’s House / Manuel Ribeiro” 19 Jan 2010. ArchDaily. Accessed 12 Jun 2021. ISSN 0719-8884Read commentsBrowse the CatalogSinkshansgroheBathroom Mixers – Talis SVinyl Walls3MExterior Vinyl Finish – DI-NOC™ Solid ColorPartitionsSkyfoldRetractable Walls – Stepped & Sloped SpacesDining tablesZeitraumWood Table – TautBathroom AccessoriesBradley Corporation USARoll Towel Dispenser – Electronic TouchlessWoodLunawoodThermowood FacadesAluminium CompositesSculptformClick-on Battens in Victoria GardensMetal PanelsLongboard®Metal Ceilings – DauntlessWoodStructureCraftEngineering – Mass TimberPanels / Prefabricated AssembliesULMA Architectural SolutionsPerforated Facade PanelFiber Cements / CementsDuctal®Rainscreen Cladding Panels for Lightweight Facades in Apartment BlockBricksAcme BrickModular Size BrickMore products »Read commentsSave想阅读文章的中文版本吗?阿韦莱达别墅 / Manuel Ribeiro是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

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Advice on trading subsidiaries using a charity’s premises

first_imgAdvice on trading subsidiaries using a charity’s premises  26 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1 As the trading subsidiary grows, they advise that it should be granted a lease at full market rent. However, such leases must be granted with the Charity Commission’s consent and be approved by the charity’s trustees.There are also VAT implications when letting to a business: Russell Cooke warn that “where the use is substantial it may put the charity’s exemption from business rates at risk.” AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis1 About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.center_img Charities will continue to need to use trading subsidiaries for the indefinite future as the government has turned down proposals to allow charities to trade, according to solicitors Russell Cooke.In their latest e-mail newsletter to clients, charity law specialists Russell Cooke report advise on how charities’ trading subsidiaries might share a charity’s premises.“Initially a trading subsidiary may occupy a relatively small part of a charity’s premises and it may be appropriate to use a licence to document the shared use”, advises James Sinclair Taylor at Russell Cooke. “Even then, a full market level fee must be charged. This applies even if the charity is not paying any rent itself.” Advertisement Tagged with: Finance Trading Howard Lake | 1 March 2004 | Newslast_img read more

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Gift A Shift to mark the Royal Wedding, and other occasions

first_imgBus driver Derek Brash is urging charities to take up his ‘GiftaShift’ idea and encourage their supporters to donate the value of one day’s work or a work shift to charity.In particular, he is focusing on the upcoming Bank Holiday on 29 April when the nation is being given a day off work to celebrate the wedding of Prince William and Kate Middleton. Since the Bank Holiday is a bonus this year, Brash hopes many people will choose to donate the value of this to charity.But the idea could be applied to other dates and events, so he is hoping the idea will catch on. “GIFTASHIFT once a year, once a lifetime or as often as you can”, suggests Brash.His initiative is timely given the Royal Wedding but, as he acknowledges, “it’s not a new concept”. The idea has cropped up before. For example, in the run-up to the year 2000, Marks & Spencer announced its Millennium Initiative whereby its staff were encouraged to donate the value of their last hour’s work in 1999 to charity.GiftaShift is neither a business nor a charity. Brash simply wants individuals and charities to try out the idea.www.giftashift.com Gift A Shift to mark the Royal Wedding, and other occasions AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Howard Lake | 12 January 2011 | News Tagged with: Events Volunteering  20 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more

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Asda donates food to Depaul UK

first_img AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Asda donates food to Depaul UK Tagged with: corporate Donated goods Howard Lake | 2 August 2012 | News  29 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Supermarket chain Asda is helping youth homelessness charity Depaul UK by providing donated food to its regional facilities.The supermarket’s distribution warehouse at Washington is collecting surplus stock orders placed by the supermarket and food that members of staff have bought and donated. Two trollies have been set aside for staff to fill with practical food items such as pasta, noodle pots, sauces and tinned products like meatballs and spaghetti. These can fill the centres’ cupboards “for weeks”.Depaul’s regional facilities rely on donations such as this to feed young people who come there for help after finding themselves homeless.Julie Duell, partnership development officer for Depaul UK, said: “Donations of this nature are just as important as being given a cash boost, as we need to have food supplies in for the young people who come to us in need of help. Often they haven’t eaten for a while and are grateful for whatever we can give them, so things like pasta meals or tinned foods that are quick to make are perfect.”www.depauluk.org About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more

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NYC mass transit: Bosses say ‘Keep paying!’

first_imgIn 2015, 1.8 billion trips were made on New York City subways, about 6 million a day. This is a 50 percent increase from the 1990s, when the daily ridership was around 4 million.Subways are essential to the economy of the city and make possible its huge density of offices, culture, arenas, stores, universities and all sorts of services. They are also essential to workers, who use them to get to their jobs and to visit friends and family.According to U.S. Census figures, 41 percent of all New Yorkers take a subway to work, while only 12 percent take the bus and 10 percent walk. Fifty-four percent of all New York families do not own a car. Currently, a number of lines run over capacity, and passengers wait for four or five trains before they can find a spot.Like much U.S. infrastructure, subways have not been maintained properly. The investments to keep the system resilient, capable of overcoming catastrophes and accidents, have not been made.Superstorm Sandy battered the New York subway system in 2012, hitting the tunnels that connect the island of Manhattan to the rest of the city hard. The Canarsie tunnel, used by the L-line to connect Brooklyn and Manhattan, was filled with highly corrosive salt water for 11 days and is now falling apart.The Canarsie tunnel was built in 1924 with only two tubes, one with a track for Brooklyn-bound trains, the other with a track for Manhattan-bound trains. Any accident blocking one tube slows down traffic significantly as only one tube is available for both directions. The tunnel is now used by nearly 250,000 passengers a day.For 90 years, the MTA and its predecessor agencies have known the system needs an additional tube, but found it more convenient to just shut the tunnel down when there was work to do. When the MTA was replacing the signal system on the L-line with a more modern system, it stopped weekend service through the tunnel for months at a time.For workers who relied on the L-line to get to jobs in Manhattan, the absence of L service was a major blow. Commutes that took 20 to 30 minutes stretched to two to three hours. Instead of simply making a few stops on the L, some workers had to transfer to two or three lines, since much of the area served by the L is not served by any other subway line.On July 25, the MTA announced it will shut the L-line down for 18 months starting in 2019. What the MTA hasn’t announced is how the 250,000 people who use the Canarsie tunnel are going to get to work in a reasonable amount of time during the repairs. The shutdown will affect not only workers coming from Brooklyn to Manhattan. Thirty to fifty thousand people a day use the L-line in Manhattan.One reason the MTA announced the shutdown so far in advance is that the city of New York is feuding with the state of New York for which government source will pay, and each is trying to shift blame.But workers don’t need the blame. They need to get to work.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

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The Cowtown Marathon: Stories from the finish line

first_imgShane Battishttps://www.tcu360.com/author/shane-battis/ The Leap: 10 April Fool’s pranks to try this year Linkedin ‘The Big Switch:’ Student spends a day in the chancellor’s shoes print Abortion access threatened as restrictive bills make their way through Texas Legislature + posts Shane Battishttps://www.tcu360.com/author/shane-battis/ Previous articleSenseless Acts of Comedy travels for national tournamentNext articleVietnam Memorial Wall replica comes to the Stockyards Station Shane Battis RELATED ARTICLESMORE FROM AUTHOR Shane Battishttps://www.tcu360.com/author/shane-battis/ Twitter Facebook Office of Religious and Spiritual Life affirms Muslim students in light of online threats ReddIt Fort Worth set to elect first new mayor in 10 years Saturday Facebook Lead On committee co-chairs share goals with students Shane Battishttps://www.tcu360.com/author/shane-battis/ Grains to grocery: One bread maker brings together farmers and artisans at locally-sourced store Twitter Linkedin ReddIt Shane Battis last_img read more

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FHFA Evaluates Future Goals

first_img Tagged with: Fannie Mae FHFA Freddie Mac  Print This Post About Author: Brianna Gilpin Servicers Navigate the Post-Pandemic World 2 days ago June 29, 2017 1,201 Views Thursday, the Federal Housing and Finance Agency proposed its 2018-2020 housing goals for Fannie Mae and Freddie Mac. The FHFA is proposing a rule to establish new Single-Family Housing Goals and new Multifamily Housing Goals giving opportunity to comment. The rule would make a number of clarifying and conforming changes, according to the FHFA, “including revisions to the requirements for the housing plan that an Enterprise may be required to also submit in response to a failure to achieve one or more of the housing goals.”The proposed benchmark levels for low-income, very low-income home, and low-income refinance goal will remain unchanged from the 2015-2017 time frame at 24 percent, 6 percent, and 21 percent respectively. Low-income areas home purchase subgoal is proposed at a 1 percent increase from the current benchmark level of 14 percent.To meet a single-family housing goal or subgoal, the Enterprise that meets the percentage of mortgage purchases goal or subgoal must exceed either benchmark set by the FHFA or the market level for that particular year. This level is decided retrospectively each year based on the goal-qualifying share of the overall market as measured by FHFA based on the Home Mortgage Disclosure Act (HMDA) data for that year.The proposed multifamily goal for low-income will increase 15,000 from the current level of 300,000 while the very low-income goal of 60,000 will remain unchanged. Though the low-income small multifamily subgoal has increased by 2,000 each year since 2015, this year it will remain the same as the current level at 10,000 units.An Enterprise must purchase mortgages on multifamily properties, which are properties with five or more units, with rental units affordable to families in each category, as well as a subgoal for properties with 5-50 units to meet the multifamily housing goal or subgoal.Though the Enterprises are still under conservatorship, they still have to support a stable and liquid national market for residential mortgage financing. The FHFA said they have continued to establish annual housing goals for the Enterprises and continued assessing their performance under the housing goals each year during conservatorship.The FHFA is accepting written comments on the proposed rule within 60 days of publication in the Federal Register. For more information on commenting, click here. The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago FHFA Evaluates Future Goals Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, News Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] Sign up for DS News Daily Home / Daily Dose / FHFA Evaluates Future Goalscenter_img Previous: Is Subprime About to Make a Comeback? Next: Top 5 Cities With Greatest Home Purchase Power Share Save Fannie Mae FHFA Freddie Mac 2017-06-29 Brianna Gilpin Subscribe Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

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“What Is The Guarantee That You Will Not Escape? SC Reserves Order On Plea Seeking Time For Staggered Payment Of AGR Dues By Telecom Companies

first_imgTop Stories”What Is The Guarantee That You Will Not Escape? SC Reserves Order On Plea Seeking Time For Staggered Payment Of AGR Dues By Telecom Companies Sanya Talwar20 July 2020 7:41 AMShare This – xThe Supreme Court on Monday reserved orders in the plea by Department of Telecommunications (DoT) seeking to allow telecom companies to make payments of the AGR dues in a staggered fashion over 20 years.A bench of Justices Arun Mishra, MR Shah & S. Abdul Nazeer also made it clear that it shall not entertain any objections for re-assessment/ re-calculation of AGR in light of the…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Supreme Court on Monday reserved orders in the plea by Department of Telecommunications (DoT) seeking to allow telecom companies to make payments of the AGR dues in a staggered fashion over 20 years.A bench of Justices Arun Mishra, MR Shah & S. Abdul Nazeer also made it clear that it shall not entertain any objections for re-assessment/ re-calculation of AGR in light of the decision passed by Top Court in October 2019 and directed Reliance Communications, Sistema, Shyam Teleservices & Videocon to submit their insolvency details within 7 days. Court noted that, in doing so it needed to ensure that the IBC was not being misused by companies in order to escape liabilities.While warning all parties to dispense with payments pertaining to public revenue as had already been directed by the Court, the Justice Arun Mishra led bench expressed reservations regarding keeping the payment of dues pending.”What is the guarantee that you will not escape? Some of you are foreign companies and may even go into liquidation. What is the security that you can give us?” Justice Mishra asked.Senior Advocate Mukul Rohatgi appearing for Vodafone Idea stated that his client had suffered losses during its operations in India since 2006. Rohatgi: Several columns indicate profit and loss. My lords take note that 2010-11 revenue is 43000 crore while expenditure is 36000 crore. There are also other expenses mentioned in the table of affidavit. Net loss of 2857 crore in the first year and so on.Justice Mishra also pulled up all telecom companies that due to make the AGR payments since October 2019, remarking that none of the Telcos shall be allowed to “wriggle” out of their liabilities. He also said that the Solicitor General must not bat for re-assessment of dues as this would then mean going against orders of the Court which mandated the payment of AGR dues in terms of the requisite heads.Justice Mishra: Don’t try to wriggle out of this. This can never be permitted in the Country. This country is suffering due to you people.In light of this, the bench asked the Counsel for all telecom companies as to what would be the ideal and reasonable timeline for them to make the requisite payments. On those lines, the bench reserved its verdict and stated that it would now take up the matter for further consideration on August 10, 2020.On June 18, the Supreme Court had directed telecom companies to submit their financial documents while considering the instant plea by the Department of Telecommunications to allow them to settle the AGR-related dues in a staggered fashion over 20 years.On June 11, it had directed the Department of Telecommunication to reconsider the claims raised on Public Sector Undertakings on the basis of the October 2019 verdict in the case pertaining to AGR dues of telecom companies.The bench  had also observed that raising demands on PSUs on the strength of AGR verdict was uncalled for. The bench pointed out that the licenses for telecos and PSUs were of different nature, as the latter was not intended at commercial exploitation.”This is an outright misuse of our verdict. You are making a demand of over 4 lac crores ! This is wholly and totally impermissible!”, Justice Mishra observed on the demands on PSUs.In March, before the commencement of the ongoing coronavirus-forced lockdown, the Department of Telecom (DoT) had moved the Supreme Court proposing staggered payment over 20 years for telecom firms to discharge their AGR dues.The Department of Telecommunications (DOT) has filed a plea in the Supreme Court for modification of the order dated October 24, 2019 vis-à-vis arriving at a formula for recovery of past dues from telecom service providers.In the instant appeal, the union had stated that even though the Court had widened the definition of adjusted gross revenue (AGR), leaving the three telcos, i.e. Vodafone Idea, Bharti Airtel and Tata Teleservices, collectively facing more than INR1.02 lakh crore in additional licence fees, spectrum usage charges (SUC), penalties and interest, it is imperative that the proposal for mode for recovery is approved.However, on March 18, Supreme Court lashed out at the Centre and telecom companies for doing self-assessment or reassessment of the Adjusted Gross Revenue (AGR) dues fixed by the apex court in its verdict.In April, the Supreme Court had rejected pleas by Vodafone Idea, Bharti Airtel and Tata Teleservices seeking review of the October 24 verdict that widened the definition of adjusted gross revenue (AGR).Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more