Vodafone Idea Self Assesses AGR Dues At Less Than Half Of Government Demand
The AGR liabilities calculated by Vodafone Idea are only 41% of the government’s assessment.
Vodafone Idea Ltd. has self-assessed its adjusted gross revenue liabilities at less than half of the government’s estimate.
The self-assessment disclosed the company’s AGR dues at Rs 21,533 crore, including a principal amount of Rs 6,854 crore from the 2006-07 to 2018-19 and interest up to February 2020, the telecom operator said in an exchange filing on Friday.
The firm has filed the self assessment with the Department of Telecommunications.
The government has estimated Vodafone Idea’s past liabilities at Rs 53,000 crore, of which the company has so far paid Rs 3,500 crore.
Vodafone Group CEO Nick Read is currently meeting Telecom Minister Ravi Shankar Prasad to discuss options to keep Vodafone Idea afloat.
On Friday, Vodafone Idea shares fell 6.94 percent to Rs 3.35 apiece on the NSE while the benchmark Nifty 50 shed 2.57 percent to end the day at 10,979.55 points.