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DoT, telcos may clash over AGR dues calculation again
Economic Times
·
2h ago
Medial
The Department of Telecommunications (DoT) and private telecom operators Bharti Airtel and Vodafone Idea are set for a renewed confrontation over additional adjusted gross revenue (AGR) dues. The DoT asserts the additional demands are valid, issued to cover accounting gaps not addressed during the Supreme Court's 2019 ruling. Vodafone Idea has challenged this demand, arguing it contradicts the court's decision, while Bharti Airtel may also contest. Reliance Jio reportedly settled the additional dues due to their minimal amount.
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Related News
Supreme Court to hear Vi plea on Rs 9,450 crore AGR-related dues
Economic Times
·
2d ago
Medial
Vodafone Idea (Vi) has approached the Supreme Court regarding an additional Rs 9,450 crore demand by the Department of Telecommunications (DoT) for Adjusted Gross Revenue (AGR) dues until FY19. Vi argues this demand contradicts the Supreme Court's previous rulings, which set AGR liabilities only up to FY17 and barred reassessment. While the DoT issued a notice for license fee dues up to FY19, Vi contends these demands exceed previous amounts and include errors and potential double-counting.
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Supreme Court Rejects Telcos’ Plea for AGR Dues Waiver
StartupTalky
·
3m ago
Medial
The Supreme Court of India has rejected pleas by Vodafone Idea, Bharti Airtel, and Tata Teleservices to waive their adjusted gross revenue (AGR) dues, including interest and penalties. The decision could significantly impact Vodafone Idea, which may face insolvency without relief. Although Vodafone Idea's senior advocate stated the government owns a considerable stake, the court's ruling prevents offering further concessions. The government is reluctant to increase its stake, potentially transforming the carrier into a public sector entity.
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Vodafone Idea, Indus Towers shares plummet 15% as Supreme Court upholds AGR ruling
Money Control
·
11m ago
Medial
- Supreme Court rejects telecommunication companies' plea for re-computation of AGR dues. - Shares of Vodafone Idea crashed over 15 percent, while Bharti Airtel shares were up two percent. - Vodafone Idea filed a curative petition seeking correction of errors in AGR demand calculation, limiting penalty to 50 percent of shortfall, and revising interest rate on penalty. - Cash flow situation expected to become more challenging for Vodafone Idea without relief from court. - Goldman Sachs reaffirms bearish rating on Vodafone Idea, predicts further erosion of market share despite recent capital raise.
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Vi, Airtel raise AGR issue at meeting with telecom minister Scindia
Livemint
·
11m ago
Medial
Top executives of Reliance Jio, Vodafone Idea, and Bharti Airtel met with telecom minister Jyotiraditya Scindia to discuss the issues affecting the sector and the telecom companies. Vodafone Idea raised concerns regarding adjusted gross revenue (AGR) after a Supreme Court judgement, but no relief discussions for the carrier took place. Other topics addressed during the meeting included messaging and calling apps, quality of service, and the impact of AGR on the health of the sector. Vodafone Idea is engaging with the government to address calculation errors and penalties related to AGR dues.
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After Vodafone Idea relief, Airtel reportedly seeks equity swap for ₹41,000 crore dues - After Vodafone Idea relief, Airtel reportedly seeks equity swap for ₹41,000 crore dues BusinessToday
Business Today
·
4m ago
Medial
Bharti Airtel has requested India's Department of Telecommunications to convert ₹41,000 crore of its adjusted gross revenue (AGR) dues into equity, similar to Vodafone Idea's recent move, potentially giving the government a 2–4% stake. Airtel is focusing on AGR dues, while its total outstanding dues to the government stand at over ₹95,000 crore. The move follows the government's decision to convert Vodafone Idea's spectrum dues into equity. Airtel continues to manage its spectrum and financial commitments.
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Vodafone lenders worried about the fate of loans
Livemint
·
2m ago
Medial
Vodafone Idea Ltd's lenders are concerned about the telecom operator's financial stability as it seeks an additional ₹35,000 crore in loans. The apprehension stems from the possibility that the company may prioritize paying government dues over new bank loans, amid its ongoing financial struggles. The Supreme Court recently rejected the company's appeal to waive dues linked to adjusted gross revenues (AGR), intensifying the telco's burden. Since FY17, Vodafone Idea has reported consistent losses.
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Vodafone Idea seeks urgent Supreme Court hearing on revenue dues
Livemint
·
1y ago
Medial
Vodafone Idea (Vi) has requested the Supreme Court to urgently consider its curative petition against a previous court order regarding its adjusted gross revenue (AGR) dues. The company is seeking clarity on its liabilities in order to raise debt funding. Vi argues that the Department of Telecommunications made errors in calculating the final demand and that it was not given a hearing before the penalty was imposed. Both Vi and Bharti Airtel filed curative petitions in September 2021, following a Supreme Court order requiring telecom companies to pay their AGR dues over a 10-year period.
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Vi to rely on internal cash, non bank funding for capex from Sept: CEO
Economic Times
·
24d ago
Medial
Vodafone Idea (Vi) will rely on its internal cash and non-bank funding for network expansion from September 2025, as its capital from the follow-on public offering will be depleted. The company aims to sustain its capex cycle but faces challenges with anticipated AGR dues payments. Vi's operating profit and metrics show improvement, despite declining capex intensity. Talks with banks continue, focusing on clarity regarding AGR dues. Vi's 5G rollout aims to improve user experience and reduce network congestion.
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Vodafone Idea takes AGR dues battle to Supreme Court
Inshorts
·
3m ago
Medial
Vodafone Idea has moved to the Supreme Court after the Indian government rejected its plea to waive over $5 billion in AGR dues. Facing massive liabilities and stiff competition, the telecom giant seeks relief to avoid collapse. The case’s outcome could reshape India’s telecom landscape and determine Vodafone Idea’s survival.
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DoT asks telcos to pay for 5G spectrum sold in June auction
Money Control
·
1y ago
Medial
The Department of Telecommunications (DoT) has issued demand notices to Bharti Airtel, Reliance Jio, and Vodafone Idea for payment of their spectrum purchases. Telecom operators have been given 10 days to make the payment. Two payment options have been provided by the DoT, allowing companies to either make the full payment or pay in annual installments over 20 years. The payment must be made within 10 days of receiving the demand notice, after which the spectrum can be allocated. Bharti Airtel and Vodafone Idea have already renewed spectrum permits in certain areas.
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