Vodafone Idea in the filing said its board of directors has “approved the exercise of the option of deferring the AGR dues with immediate effect for a period of four years, as per the said letter of DoT.
Vodafone Idea in the filing said its board of directors has “approved the exercise of the option of deferring the AGR dues with immediate effect for a period of four years, as per the said letter of DoT.
Debt-ridden telecom operator Vodafone Idea It has been decided to defer the payment of Adjusted Gross Revenue in addition to arrears of ` 8,837 crore for a period of four years.
The company, in a late night filing on June 22, said that DoT has sought Adjusted Gross Revenue (AGR) on June 15 for an additional two financial years after 2016-17, which were not covered under the Supreme Court order on statutory went. due
Vodafone Idea (VIL) in the filing said that its board of directors has “approved the exercise of the option of deferring AGR dues with immediate effect for a period of four years, in accordance with the said DoT letter, for an amount of Rs. The arrears relating to AGR is ` 8,837 crore as stated in the said DoT letter which is subject to revision on account of settlement of various representations.
The government calculates its share of revenue from telecom operators on the basis of their AGR, which they are believed to have earned from the sale of services.
The VIL filing states that DoT has offered a moratorium of four years to the company for all AGR-related dues till the financial year 2018-19, which were not covered by the Supreme Court order dated September 1, 2022, which Can be used within a period of 15. Days till 30th June.
“The said DOT letter also provides the company an option to convert the interest arrears to equity for the outstanding amounts relating to these AGRs, for which a period of 90 days from the date of the said DOT letter has been provided,” VIL said. Told.
The company said the fresh demand of Rs 8,837 crore is subject to revision on account of settlement of various representations, CAG, special audit and any other outcome of litigation and “the final amount to be paid in six equal annual installments from the moratorium period”. Starting. March 31, 2026″.
The government has already approved Vodafone Idea’s proposal to convert around Rs 16,000 crore interest payment from the previous AGR moratorium into about 33% stake in the company.
According to official data, telecom operators owe the government over Rs 1.65 lakh crore in adjusted gross revenue till the financial year 2018-19.
The latest count shows AGR Liability on Bharti Airtel Till FY 2018-19 ₹31,280 Cr, Vodafone Idea ₹59,236.63 Cr, Reliance Jio ₹631 Cr, BSNL ₹16,224 Cr, MTNL ₹5,009.1 Cr.
The company, in a separate filing, said its board has approved raising ₹436.21 crore from Vodafone Group company Euro Pacific Securities by issue of preference shares at a unit price of ₹10.2 or warrants at the same price.