Vodafone Idea Limited (Vi) has sought time till the end of December 2023 to clear its remaining statutory dues. The telco said that it expects to close its fundraising from banks and third-party investors in the near future and that its promoters are committed to supporting the company.
In response to a Departmentment of Telecommunications (DoT) show cause notice, Vi cited continuing liquidity challenges due to its delayed fundraising. The operator added that it is working in a focused manner to secure fundraising from banks and third parties and sought the support of DoT in this matter. Earlier in July 2023, Dot had sent a letter to the telco for coming up short on payments of licence fees and spectrum usage charges (SUC).
