New Delhi: Vodafone on Wednesday said the outlook for its India telecom joint venture Vodafone Idea remained “critical” and it was seeking relief from the government to pay the adjusted gross revenue (AGR) dues over a longer period.
“In October, the Supreme Court gave an adverse judgment in the AGR case against the industry. The outlook for Vodafone Idea (VIL) remains critical. VIL is seeking relief from the Indian government to ensure that the rate and level of payments it makes to the government is sustainable and it can meet its other commitments as they fall due,” the London-based telecom major said.
In November, the Department of Telecommunications (DoT) granted a two-year spectrum moratorium. In January the Supreme Court rejected the review petition filed by VIL and others over the AGR judgment.
Both VIL and Bharti Airtel later filed modification petitions, expected to be heard soon, requesting the court to order the DoT to determine a payment schedule for AGR dues and other relief.
