Nick Reed, chief executive officer (CEO) of the Vodafone Group, and Ravinder Takkar, managing director of Vodafone Idea, held a meeting with finance minister Nirmala Sitharaman and telecom minister Ravi Shankar Prasad.
During the meeting, the parties involved discussed the company’s current situation and the adjusted gross revenue (AGR) issue.
Reed sought relief from both the ministers, expressing the company’s inability to pay AGR dues in line with the Supreme Court’s verdict. Further, he
emphasised that the company needed time and a staggered payment schedule, along with other relaxations to pay the full dues.
Meanwhile, the ministers reportedly assured Reed that they are against creating monopolies in the sector and are working out relief measures to bail out financially-stressed companies.
Reed’s India visit comes ahead of Supreme Court’s hearing of the AGR issue, which will be held on March 17, 2020.