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Vodafone Idea Says Ready to Pay AGR Dues in Next Few Days, Warns SC Order Will Decide if Business Continues

Representative image.

Representative image.

The liability of Vodafone Idea Ltd (VIL) 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.

  • PTI
  • Last Updated: February 15, 2020, 11:23 PM IST
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New Delhi: Debt-ridden telecom operator Vodafone Idea on Saturday 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 the adjusted gross revenue dues as per the Supreme Court order.

However, the company added that the continuation of its business in India will depend on a favourable order on its modification plea filed before the apex court.

"The company is currently assessing the amount it will be able to pay to the Department of Telecommunications (DoT) towards the dues calculated based on AGR (Adjusted Gross Revenue), as interpreted by the Supreme Court in its order dated October 24, 2019. The company proposes to pay the amount so assessed in the next few days," Vodafone Idea said in a BSE filing.

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," it said.

The next date of hearing is scheduled for March 17.

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