Vodafone Idea AGR Dues

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Vodafone Idea AGR Dues

Tanay Singh Thakur March 2nd, 2022 8:19 AM 26 COMMENTS

Vodafone Idea (Vi) Has Asked Govt for Close to $2 Billion in BGs

Vodafone Idea (Vi), India’s third-largest telecom operator, has asked the Department of Telecommunications (DoT) for releasing up to Rs 15,000 crore (approximately $2 billion) in bank guarantees (BGs) kept against the payment of adjusted gross revenue (AGR) dues. Since the AGR dues have been deferred for the next four years, the need of maintaining bank guarantees right now is unnecessary, believes Vodafone Idea. According to an ET Telecom report, Vi... Read More

Bala Yogesh July 21st, 2020 12:37 PM 1 COMMENTS

Supreme Court Reserves Order on Granting Additional Time for Telcos to Pay AGR Dues

The Supreme Court of India on Monday reserved its order on the petitions filed by the telecom players in India seeking additional time for the payment of the statutory dues. The apex court in October, 2019, said that the statutory dues need to be calculated by adding the non-telecom revenues in Adjusted Gross Revenues (AGR). The judgement in October ended a 14 year battle between the operators and the government... Read More

Bala Yogesh July 20th, 2020 2:22 PM 10 COMMENTS

Vodafone Idea Pays Additional Rs 1000 Crore Towards AGR Dues

Vodafone Idea said that the company on Friday had paid a further amount of Rs 1000 crore to the Department of Telecommunication (DoT) as part of its Adjusted Gross Revenue (AGR) dues. The company in its exchange filing on Saturday said that it had earlier paid a total of Rs 6854 crore in three tranches. Following the payment on Friday, Vodafone Idea highlighted that the company has now paid an... Read More

Shrijan Soni June 13th, 2020 4:04 PM 12 COMMENTS

Vodafone Idea Should Double its ARPU to Maintain Financial Viability: Analysts

Vodafone Idea is under heavy financial distress due to the burden of AGR dues. A few days back, Supreme court asked the telcos including Vodafone Idea, to submit an affidavit regarding payment of AGR dues till June 18. In response to the demand of supreme court, Vodafone Idea’s counsel stated that telco giant has been facing difficulty in paying employees salary and meeting operating expenses and it would not 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

Chakri K March 8th, 2020 4:20 PM 31 COMMENTS

Vodafone Idea Aims at Having a Fresh Start in India After AGR Crisis

Over the last few weeks, we have been hearing a lot about Vodafone Idea Limited and its massive financial stress. The telco has to pay over Rs 53,000 crore to the government towards AGR dues. As we reported last week, Vodafone Group CEO was about to meet government officials to discuss the AGR crisis. Nick Read, who is the CEO of Vodafone Global Plc met with the government officials and... Read More

Chakri K February 26th, 2020 3:43 PM 2 COMMENTS

Vodafone Idea Planning to Get Credit from Oaktree Capital

Vodafone Idea has been surrounded by cash crunch as no relief has been given by the Supreme Court. However, the telco giant might get a big mollification as Oaktree capital is planning to lend 11.5 % stake in Indus tower. However, Vodafone Idea must expect a higher rate of interest around 20%. According to a report by ET Telecom, Oaktree Capital is a financial company located in foreign, which works... Read More

Chakri K February 18th, 2020 3:56 PM 56 COMMENTS

Supreme Court Rejects Proposal of Vodafone Idea to Pay Part of AGR Dues, Company on the brink of Collapse

The Supreme Court on Monday rejected Vodafone Idea’s proposal to pay part of their adjusted gross revenue dues and direct government not to take any coercive action against it. Senior advocate Mukul Rohatgi appearing for Vodafone Idea said they are willing to pay Rs 2,500 crore today and another 1,000 crore by Friday, and the government shouldn’t pursue any forcible action against them. He also urged that the bank guarantees... Read More

Chakri K February 14th, 2020 5:34 PM 0 COMMENTS

Supreme Court Demands Sizeable AGR Dues from Telcos After Delay in Payment

On Friday, the Supreme Court addressed the government and telecom companies for not accepting the court orders regarding the recovery of AGR dues which amounted to Rs 1.47 Lakh Crores from all telecom companies. The Spire legal body directed all the telcos to pay a sizeable amount of their statutory dues by Friday. As per the effect of the statement by the supreme court, telcos like Vodafone Idea faced trouble... Read More

Chakri K February 5th, 2020 6:36 PM 26 COMMENTS

Vodafone Idea Position ‘Remains Critical’ Says the UK-Based Telco

UK-based Vodafone, in its earnings release, said that the position of Vodafone Idea 'remains critical.' Ever since the AGR setback, Vodafone Idea has been seeking relief from the Indian government, but there is no proper response. As part of the dues, Vodafone Idea will have to furnish Rs 53,000 crore as license fee, interest, spectrum usage charges and penalty dues to DoT. Not only Vodafone Idea, but even Bharti Airtel... Read More