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India’s telecom operators together owed more than Rs 1.77 lakh crore in adjusted gross revenue (AGR) dues to the government up to FY25, with Vodafone Idea accounting for the largest share, according to official data shared with Parliament, PTI reported.The data showed that debt-laden Vodafone Idea’s total liability stands at Rs 89,952 crore. Bharti Group’s…
NEW DELHI: Offering a lifeline to struggling debt-laden Vodafone Idea, govt has capped annual payouts to clear past dues at Rs 124 crore over the next six years, easing near-term cash flows, the company said on Friday.Between March 2032 and March 2035, the yearly outgo will be trimmed to Rs 100 crore, Vodafone Idea said…
Vodafone Idea on Thursday said it has received a GST penalty order of about Rs 638 crore from the Office of the Additional Commissioner, Central Goods and Services Tax, Ahmedabad, and that it will challenge the order through legal action, PTI reported.In a statutory filing, the debt-laden telecom operator said it does not agree with…
NEW DELHI: In a major relief for Vodafone Idea, the Union cabinet on Wednesday decided to freeze the telecom company’s adjusted gross revenue (AGR) dues at Dec 31 level of Rs 87,695 crore, with payment rescheduled over 10 years, starting 2031-32. In addition, the dues frozen at the current level will be reassessed by the…
The Union Cabinet on Wednesday approved a relief package for debt-laden Vodafone Idea, freezing adjusted gross revenue (AGR) dues of Rs 87,695 crore and rescheduling their repayment over a 10-year period from FY32 to FY41, sources told PTI.As part of the decision, the Department of Telecommunications will reassess the frozen AGR dues based on Deduction…
NEW DELHI: The Union Cabinet is likely to take up the AGR (Adjudted Gross Revenue) relief matter for Vodafone Idea on Wednesday, a measure that is seen as a lifeline for the loss-making telco, which has debt over of Rs 2 lakh crore. Vodafone Idea’s AGR dues are understood to be around Rs 83,000 crore,…
NEW DELHI: Days after the Supreme Court gave a ruling on the Vodafone Idea AGR matter, Govt has begun work to find a solution to the over Rs 83,000 crore liability of the telco. Department of Telecom (DoT) is set to take legal advice on the way forward and once secured, it will instruct all…
Vodafone Idea shares surged nearly 10% on Monday to hit the upper circuit at Rs 9.60 on the BSE, after the Supreme Court provided crucial clarity on the long-pending issue of Adjusted Gross Revenue (AGR) dues. The development eased investor concerns over the telecom firm’s massive liabilities and lifted sentiment around the stock.The apex court…
NEW DELHI: Vodafone Idea’s shares tumbled 12.4 per cent to Rs 8.21 on the BSE on Thursday after the Supreme Court issued its written order on the company’s adjusted gross revenue (AGR) dues, curbing the extent of relief investors had anticipated. The clarification dented hopes of a broader reprieve for the debt-laden telecom operator.The written…
NEW DELHI: The Supreme Court’s ruling on the telecom AGR matter empowers the Union Cabinet to review the entire gamut of issues related to the recovery of thousands of crores of rupees from the beleaguered Vodafone Idea when it comes to demands of duplicate payments, double counting, interest, and penalty on interest. Estimates put the…
