Not in sound state; can meet liabilities only with Govt support: Voda Idea

| | New Delhi
  • 0

Not in sound state; can meet liabilities only with Govt support: Voda Idea

Friday, 28 February 2020 | PTI | New Delhi

Troubled Vodafone Idea has written to the telecom department expressing its inability to pay full AGR dues unless the government takes urgent measures, including allowing staggered payment, reduction in levies and implementation of floor prices in the crisis-ridden sector.

The letter to the communications ministry comes at a time when the company is confronted with AGR dues of over Rs 53,000 crore and has paid a mere 7 per cent of its liabilities so far.

Warning that it is “not in a sound financial state”, Vodafone Idea said the company would be in a position to meet its liabilities only if the government initiates steps including allowing set offs for GST credit accumulated so far, and permitting staggered mechanism for payment of balance amount of interest, penalty, and interest on penalty. It said adjustment of GST credit due from the Government could help in meeting its AGR payment.

State Editions

1.52L students avail CM Medhavi Vidyarthi Yojana

25 May 2020 | Staff Reporter | Lucknow

Governor, CM greet people of MP on occasion of Id-ul-Fitr

25 May 2020 | Staff Reporter | Bhopal

No labourer employed in R'gada MNREGS work

25 May 2020 | BADAl TAH | Bhubaneswar

News Briefs

25 May 2020 | PNS | Bhubaneswar

Massive fire breaks out in Apoorti market godown

25 May 2020 | Staff Reporter | Bhopal

Sunday Edition

A cupful of health

24 May 2020 | Excerpt | Agenda

from Corona to Karuna

24 May 2020 | Radhanath Swami | Agenda

Resurgence of Nature

24 May 2020 | Madan lall Manchanda | Agenda

For us and the world

24 May 2020 | Ajit Kumar Bishnoi | Agenda

Astroturf | Be live to collective obligation

24 May 2020 | Bharat Bhushan Padmadeo | Agenda

Talktime : ‘I regret not retaliating to verbal abuse’

24 May 2020 | MUSBA HASHMI | Sunday Pioneer