Vodafone Idea pays around Rs 3,043 crore to government for deferred spectrum dues
New Delhi, Mar 03: Troubled Vodafone Idea on Tuesday paid about Rs 3,043 crore to the telecom department towards deferred spectrum dues, sources said. Deferred spectrum dues are essentially instalment payments that are made by telcos for airwaves bought in past auctions.
The move assumes significance as VIL has been under financial pressure and is confronted with AGR (Adjusted Gross Revenue) liabilities of over Rs 53,000 crore. VIL has so far paid Rs 3,500 crore in two tranches towards its AGR liabilities.
The sources in Department of Telecommunications confirmed that the company has made the payment of around Rs 3,043 crore towards deferred spectrum liability.
This is the last lot of payments that telcos will make towards deferred spectrum liabilities, as the Union Cabinet had late last year approved a two year's moratorium on such spectrum payment dues.