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Vodafone Thought defers ₹8,837 crore AGR dues by four years

Vodafone Thought has deferred fee of dues price ₹8,837 crore by 4 years on account of the Adjusted Gross Income (AGR) it owes to the Centre. That is along with the moratorium the operator obtained as a part of the telecom bailout bundle introduced by the Cupboard final yr.

Beneath the telecom bundle, Vodafone Thought has obtained a moratorium on the AGR dues pending as much as FY17. The extra deferment is for AGR dues as much as FY19. “ The Division of Telecom ( DoT) has provided a moratorium of 4 years (on an NPV protected foundation) for all AGR-related dues as much as FY19 which weren’t included within the Supreme Court docket order dated 1st September 2020, which could be exercised inside a interval of 15 days, i.e. by June 30, 2022.”

“The mentioned DoT letter additionally offers the corporate an possibility for fairness conversion of curiosity dues upfront for these AGR-related dues for which a interval of 90 days has been supplied,” Vodafone Thought mentioned in a communication to the inventory alternate.

The cash-strapped operator mentioned that it has exercised the choice of deferment of the AGR-related dues for a interval of 4 years with instant impact. The dues will probably be subsequently paid from March 2026 onwards in 6 instalments. The corporate has not at the moment exercised the conversion to fairness train on these dues but.

This quantity is along with the funds already deferred by Vodafone Thought on spectrum and AGR dues amounting to ₹92,000 crore. Vodafone Thought exercised this feature final yr and obtained a four yr moratorium, along with which it additionally requested the federal government to transform curiosity pending on these funds into fairness as a part of the Cupboard’s bailout proposals.

Printed on

June 23, 2022

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