Voda Idea’s top management has cautioned lenders that timely repayments may not be possible without govt relief
Takkar's comments came on a Voda Idea earnings call Friday, a day after the beleaguered telco reported an unprecedented net loss of Rs 50,921.9 crore, weighed down by provisions for statutory liabilities following the top court’s recent AGR ruling.
The recent SC order leaves Vodafone Idea staring at AGR dues of over Rs28,000 crore in additional licence fee.
The industry as a whole faces dues worth over Rs 1.3 lakh crore in licensee fee, spectrum usage charge (SUC), penalties and interest, after SC backed the government’s stance that non-core items should be included while calculating AGR. Licensee fee and SUC are calculated on the basis of AGR.
DoT updating figures to reflect tweaks to AGR definition after Supreme Court order.
The already stressed telecos have less than three months to pay the Rs 1.3 lakh crore in license fees and SUC.
The apex court has ruled that AGR should include all revenue accrued to carriers. But, now the government is in a bind over how to recover more than Rs 1.3 lakh crore from and already stressed sector. Vodafone Idea will be the worst affected.
Each new tariffs will come with 1000 minutes of offnet IUC minutes, which would have cost users Rs 80 if purchased separately. The plans also have data worth 56GB, 112 GB and 168 GB worth of data.
Telco’s bundled recharge packs now start at Rs 98, Rs 19, Rs 52 plans removed after IUC recovery bid
The tussle between the telco and the IT department started regarding the assessment order 2017-2018 financial year, in which the Kumar Mangalam Birla promoted company suffered losses in excess of Rs 6,600 crore.
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