Vodafone Idea Willing to Pay a Total of Rs 3,500 Crore Before February 21 for AGR Dues

Follow Us

The biggest hurdle for the telecom companies right now happens to be the pending AGR dues which the telecom operators had to pay in the past few days. The telecom companies happen to be in the process of calculating how much dues they have to pay in the coming days. In this new development, as per ET Telecom, Vodafone Idea has said that it is currently capable of paying Rs 2,500 crore for AGR dues. Further, Vodafone Idea would be able to pay an additional Rs 1,000 crore in the coming days before February 21, 2020. The telecom operator has also asked the Department of Telecommunications (DoT) not to take any coercive action. The telecom company also asked the DoT not to invoke any bank guarantees as well because that would hamper the operations of the company.




No Relief for Telecom Operators

It is worth noting that the telecom operators have been pushing hard to get some relief from the Supreme Court in regard to the Adjusted Gross Revenue (AGR) Dues which amount to around Rs 1.3 lakh crore for all the operators. Out of all the telcos, Reliance Jio is the only one which has paid its dues before the January 23 deadline this year. However, the rest of the operators have found themselves to be incapable of paying these dues given the high quantum. The Sunil Bharti Mittal led telecom operator, Bharti Airtel has dues worth Rs 35,500 crore on its head, whereas, Vodafone Idea has dues worth Rs 53,000 crore to pay.

Vodafone Idea Paying Off Dues Using Rights Issue

The telecom operator had also filed a review petition in the Supreme Court which was dismissed by the bench, but then Bharti Airtel and Vodafone Idea, both filed a modification petition in the Supreme Court asking a direct negotiation with the Department of Telecommunications (DoT) on the payment timeline of the AGR dues. Although the telecom companies could not get relief on the amount of the dues, the telcos were seeking if they could get a delayed timeline for paying off these dues.

Vodafone Idea had recently conducted rights issue for Rs 25,000 crore out of which Rs Rs 2,826.1 crore has been set aside for paying off the AGR dues. It is further expected that the telecom company might get a help of Rs 8,000 crore from Vodafone UK to pay off these dues.

Reported By

Reporter

Arpit spends his day closely following the telecom and tech industry. A music connoisseur and a night owl, he also takes a deep interest in the Indian technology start-up scene and spends rest of his time spilling poetry and stories on paper.

Recent Comments

Rupesh :

Only 3500? These 5 states combined have 51744 towers. Means less than 5% per state. BSNL will never get level…

BSNL Installs 3,500 4G Towers Across 5 North Indian States:…

Faraz :

"BSNL plans to quickly upgrade 4G services to 5G by June 2024 " Is this a typo or a quote…

BSNL Installs 3,500 4G Towers Across 5 North Indian States:…

Faraz :

Population growth and growth of mobile users are more than that. And I was wondering Vi started gaining 4G customers…

Vodafone Idea Only Added 4 Million 4G Users in Four…

Girish Gowda :

Oh hell no. Airtel 4G is literally unusable aside from a few posh locations in the city. My mother has…

Spectrum Auction 2024: DoT Excludes 700 MHz Frequency Band, Get…

TheAndroidFreak :

They haven't deployed band 1 10Mhz at most of the places. Don't expect much of the speeds you mentioned. 3G…

Spectrum Auction 2024: DoT Excludes 700 MHz Frequency Band, Get…

Load More
Subscribe
Notify of
12 Comments
newest
oldest most voted
Inline Feedbacks
View all comments