Vodafone Idea Limited’s (VIL) chairman Kumar Mangalam Birla has met telecom secretary Anshu Prakash amid fears that the government may invoke the company’s bank guarantees, as he looked for options to keep the company afloat.
After the meeting, Birla stated that he cannot say anything at the moment. Recently, Vodafone Idea paid Rs 25 billion to the Department of Telecommunications (DoT) and promised to pay another Rs 10 billion soon. However, the amount paid for now is less than 5 per cent of dues that Vodafone Ideas to the government.
Birla’s meeting with top government officials indicates that the chairman is actively involved in efforts to save Vodafone Idea.
