Vodafone Idea Paid One Thousand Crores of AGR Dues

Vodafone Idea Paid One Thousand Crores

In the AGR case, telecom company Vodafone, Idea and Bharti Airtel have demanded bailout, package from the government. Apart from this, the telecom companies have asked for more time for payment of AGR dues.

On Thursday, Vodafone, Idea paid and paid Rs 1,000 crore to the telecom department. A senior officer gave this information. Earlier on Monday, the company paid Rs 2,500 crore. According to the DoT, notice will be sent to Tata Teleservices for recovery of full dues in a day or two. The company has paid Rs 2,197 crore to the department. while DOT estimates that Tata Teleservices owes Rs 14,000 crore.

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CRISIL Lowers NCD Rating of Vodafone, Idea

In the information given to the exchange, Vodafone, Idea has said that Crisil has downgraded the company rating on non-convertible debentures (NCDs) worth Rs 3,500 crore. CRISIL has reduced the rating from B + to BB. The company said in the information that the rating agency has reduced the rating due to the possibility of the government not getting relief on the AGR issue.

Telecom Sector Under Pressure for Three and a Half Years

Sunil Bharti Mittal, head of the country’s leading telecom company. Bharti Airtel, had said on Wednesday that the telecom sector has been under pressure for the last three and a half years. so the government should focus on the health of the sector.

Vodafone, Idea chairman Kumar Mangalam Birla also met officials of the Finance Ministry. On Tuesday, he met the Telecom Secretary. However, it could not be clear whether he met the officials together or separately.

Which Companies have How Outstanding Dues

According to data prepared by the Department of Telecommunications, Airtel owes about Rs 35,586 crore as license fees and spectrum usage charges. Vodafone, Idea owes Rs 53,000 crore. Of this, Rs 24,729 crore is owed to Spectrum and Rs 28,309 crore is a license fee. Tata Teleservices owes Rs 13,800 crore and BSNL owes Rs 4,989 crore and MTNL Rs 3,122 crore.

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