Vodafone Idea assessing amount to be paid towards AGR dues
New Delhi, Feb 15: Debt-ridden telecom operator Vodafone Idea said it is assessing the amount that can be paid towards AGR dues, even as it flagged concerns over the continuation of its business.
The company said it is in the process to pay adjusted gross revenue dues as per the Supreme Court order.
However, the continuation of business in India will depend on favourable order on its modification plea filed before the apex court, it added.
Vodafone Idea will shut shop if there is no government relief: KM Birla
"The Company is currently assessing the amount that it will be able to pay to DoT towards the dues calculated based on AGR (Adjusted Gross Revenue), as interpreted by the Hon'ble Supreme Court in its order dated 24 October 2019. The Company proposes to pay the amount so assessed in the next few days," Vodafone Idea said in a BSE filing.
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Vodafone Idea Ltd (VIL), whose liability is estimated to be around Rs 53,038 crore, including Rs 24,729 crore of spectrum dues and Rs 28,309 crore in licence fee, has already warned of shutdown if no relief is given.
"As
disclosed
in
the
Company's
financial
statements
for
quarter
ending
December
31,
2019,
the
Company's
ability
to
continue
as
a
going
concern
is
essentially
dependent
on
a
positive
outcome
of
the
application
for
modification
of
the
Supplementary
Order,"
the
company
said
in
the
filing.
The
next
date
of
hearing
is
scheduled
for
March
17,
2020.