AGR dues: Vodafone Idea says will 'immediately' pay Rs 2,500 cr to DoT; Tata Teleservices makes Rs 2,197 cr payment
Vodafone Idea Ltd (VIL) has said its board has authorised the company to immediately pay Rs 2,500 crore, a portion of its statutory dues, to the telecom department on Monday
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Vodafone Idea Ltd (VIL) has said its board has authorised the company to immediately pay Rs 2,500 crore, a portion of its statutory dues, to the telecom department on Monday
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The company also said that it will pay another Rs 1,000 crore before the end of the week
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Tata group firm TTSL on Monday said it has paid Rs 2,197 crore to the government to settle outstanding arising from the Supreme Court ruling on adjusted gross revenue (AGR) dues for telecom firms
Vodafone Idea Ltd (VIL) has said its board has authorised the company to immediately pay Rs 2,500 crore, a portion of its statutory dues, to the telecom department on Monday.
The company also said that it will pay another Rs 1,000 crore before the end of the week.
CNBC-TV18 Newsbreak Confirmed | Vodafone Idea’s board approves paying Rs 2,500 cr as telecom dues today & Rs 1,000 cr more to DoT by end of week; Board will take further stock of situation to see how further additional payments can be made #AGR #Telecom #DoT pic.twitter.com/13CHtUVd1H
— CNBC-TV18 (@CNBCTV18Live) February 17, 2020
"The board will take further stock of the situation to see how further additional payments can be made," the company said in a regulatory filing.
VIL said that based on overall review of the position, the board has authorised the company to "immediately pay" to the telecom department a portion of AGR dues aggregating to Rs 2,500 crore on Monday and further Rs 1,000 crore before end of the week.
VIL dues are over Rs 53,000 crore as per estimated by the telecom department.
Meanwhile, Tata group firm TTSL on Monday said it has paid Rs 2,197 crore to the government to settle outstanding arising from the Supreme Court ruling on adjusted gross revenue (AGR) dues for telecom firms.
Tata Teleservices (TTSL) & Tata Teleservices Maharashtra (TTML) makes a payment of Rs 2,197 cr to the DoT towards License Fees & Spectrum Usage Charges #AGR #Telecom pic.twitter.com/hT6jbTkv0p
— CNBC-TV18 (@CNBCTV18Live) February 17, 2020
"Tata Teleservces Ltd and Tata Teleservices (Maharashtra) Ltd have made a payment of Rs 2,197 crore to the Department of Telecommunications (DoT) towards license fee and spectrum usage charges," it said in a statement.
The payment is to settle all its AGR outstanding.
"TTSL and TTML have also submitted to DoT the details of calculations in support of the payment," it said.
(With PTI inputs)
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