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Shrijan Soni June 19th, 2020 5:21 PM 1 COMMENTS

Vodafone Idea Will Face Multiple Challenges in Clearing AGR Dues: Credit Suisse

Telecom Operator Vodafone Idea is facing massive financial burden because of AGR dues. Currently, Vodafone Idea has just paid 13% of the total outstanding AGR dues. As per the latest report by Credit Suisse, Vodafone Idea will face difficulties in clearing more than Rs 50 billion incremental upfront dues in the AGR dues. The report further states that once Vodafone Idea clears Rs 69 billion of AGR dues, it is... Read More

Chakri K June 18th, 2020 1:28 PM 10 COMMENTS

Airtel, Vodafone Idea Refuse to Provide Bank Guarantees Against AGR Dues; SC Asks Them to Provide Balance Sheets

The Supreme Court has ordered the telcos like Bharti Airtel and Vodafone to file their audited balance sheets of the past 10 years after telcos refused to provide additional bank guarantees and security against AGR-related payments. The Court said that the next hearing will take place in the third week of July. The Court has also directed these telcos to come up with payment proposals and asked the Department of... Read More

Shrijan Soni June 12th, 2020 2:00 PM 0 COMMENTS

Bharti Airtel and Vodafone Idea Might Tender Spectrum and Tangible Assets as Security for AGR Dues

Telecom operators Bharti Airtel and Vodafone Idea might tender their spectrum and tangible assets and tax refunds as security to the Supreme Court. As Supreme Court earlier directed all the telcos to file an affidavit till June 18 regarding payment of AGR dues, telecom operators are considering that spectrum and tangible assets will be viable as securities. As reported by ET Telecom, telecom operators have sufficient assets which will be... Read More

Shrijan Soni June 11th, 2020 8:37 PM 16 COMMENTS

Supreme Court Directs Telcos to Submit Affidavit Regarding Payment of AGR Dues Till June 18

Supreme Court of India had postponed the hearing of AGR issue till June 18. The apex body asked all the telco giants such as Vodafone Idea, Bharti Airtel and Reliance Jio to submit an affidavit that will reveal the blueprint in which telcos will clear off their AGR dues. However, Vodafone Idea who is the most affected telco addressed the Supreme Court and stated that it could not file an... Read More

Shrijan Soni April 20th, 2020 8:09 PM 2 COMMENTS

Vodafone Idea Seeks Time from Government to Pay Quarterly AGR Dues

Vodafone Idea has urged the government for extra time to clear its outstanding quarterly AGR dues, a new ET Telecom report says. Since the entire nation is facing the wrath of COVID-19. The telecom industry is also facing financial distress. Vodafone Idea being one of the major operators in India has not cleared the bank guarantees to safeguard its spectrum payment. To ensure that bank guarantees are not invoked, and... Read More

Sneha Bhardwaj March 25th, 2020 5:22 PM 7 COMMENTS

Bharti Airtel and Vodafone Idea Get Huge Relief from AGR Dues Amidst Coronavirus Outbreak

The global spread of Covid-19 has created instability in various industries around the world, including the Indian telecom sector. Indian Government has recently declared 21 days lockdown to fight back the deadly virus. Telecom Industry which is worst hit by Covid-19 is also facing operational issues as millions of people are using networks at the same time. According to an ET Telecom report, the Department of Telecommunications (DoT) has subsided... Read More

Sneha Bhardwaj March 20th, 2020 12:46 PM 19 COMMENTS

Vodafone Idea Likely to Survive if Government Allows to Pay AGR Dues Over 15 Years

Vodafone Idea is facing massive financial distress as the telco giant has to pay Rs 58,254 crore towards AGR dues to the government. However, the Supreme Court might allow the deferred payment mechanism, which would allow the stressed telco to clear their AGR dues in a period of 15 or 20 years. However, as per the analysts, the telco giant might lose its financial credibility as they will have to... Read More

Sneha Bhardwaj March 18th, 2020 1:10 PM 7 COMMENTS

Telecom Operators Cannot Self-Asses Their AGR Dues: Supreme Court

The Supreme Court addressed the AGR issues and slammed the telcos along with DoT. As per the Supreme Bench, telcos should not have been permitted the self-assessment of their AGR dues. However, the supreme court has considered the government’s plea to allow a deferred payment mechanism to the stressed telcos. Earlier, the Supreme Court backed the Department of Telecommunications (DoT) and stated that AGR dues must include non-core items. The... Read More

Sneha Bhardwaj March 16th, 2020 1:27 PM 2 COMMENTS

Vodafone Idea Pays Rs 3,354 Crore Towards AGR dues

The Supreme Court’s verdict regarding the payment of AGR dues has been giving massive financial distress to telco giants such as Vodafone Idea, Bharti Airtel and others. In total, the telcos have a pay a cumulative amount of Rs 1.47 lakh crore to DoT towards AGR dues. The supreme bench has noted that the telcos must clear their AGR dues before the final hearing on March 17, 2020. Vodafone Idea... Read More

Chakri K March 5th, 2020 11:36 AM 20 COMMENTS

Government Directs Telcos to Pay Their AGR Dues Without Any Delay

Telecom operators might face some more trouble as the Government has asked the telcos to pay their AGR dues without any further details. The troubled telcos earlier appealed the Government to provide relief measures to ensure their viability in the market as the amount of AGR dues is massive, and full payment of dues might increase their financial burden. As per the sources of ET Telecom, DoT has addressed all... Read More

Chakri K March 4th, 2020 4:13 PM 0 COMMENTS

TTSL and TTML Pays Rs 2,000 crore to DoT towards AGR dues

Telecom operators have been facing massive financial burden because of the default in AGR dues. Telco giants like Bharti Airtel, Vodafone Idea, TTSL and many more have a whopping amount of AGR dues which needs to repaid to Trai. As the supreme court verdicts were against the telecom operators, the supreme court denied any relief to stressed telcos and directed them to pay their AGR dues before the final hearing... Read More

Chakri K March 2nd, 2020 2:29 PM 12 COMMENTS

Telcos Self-Assessed AGR Dues Creates Tension for Government

Telecom operators have been facing AGR dues burden since the supreme court has asked the operators to pay their AGR dues before March 17, 2020. However, to reduce the burden of massive AGR debt, telcos have been self-assessing their AGR dues. DoT noted that Tata Teleservices owes a whopping amount of Rs 14,000 crore to government towards their AGR dues and the telco have just paid Rs 2,197 crore, saying... Read More