Vodafone Idea has written to the Department of Telecommunications (DoT) seeking one more year to pay its outstanding dues of around Rs 82.92 billion related to spectrum purchased in auctions as it is not generating adequate cash from operations and adjusted gross revenue (AGR) payments are taking away liquidity.
The telco also stated that investors are not willing to put in funds into the cash-strapped telco unless tariffs increase and the health of the industry improves.
Vodafone Idea has said that due to the adjusted gross revenue (AGR) upfront payment of Rs 78.54 billion and the upcoming payment of the first instalment of AGR scheduled for March 2022, it won’t be able to pay its spectrum dues which needs to be paid on April 9, 2022.
