Indus Towers has informed the Telecom Regulatory Authority of India (TRAI) that it may restrict services to Vodafone Idea Limited (Vi) due to mounting receivables. As of September 30, 2023, Vi owes Rs 78.64 billion worth of debt to Indus Towers.
In a letter to TRAI, Prachur Sah, managing director, Indus Towers, said that Vi’s defaults and actions have put Indus in serious financial constraints and a precarious situation. Should Vi continue to breach its payment obligations, Indus would not only pursue all lawful remedies but also be entitled to mitigate its losses by restricting its services to Vi.
Sah further noted that if other customers of Indus also begin to seek waivers or delay payments, the stability of the entire telecom infrastructure in India could be jeopardised.
