Vodafone Idea To Pay Rs 2,500 Crore AGR Dues To Telecom Department ‘Immediately’
A customer exits a Vodafone Idea Ltd. store in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)  

Vodafone Idea To Pay Rs 2,500 Crore AGR Dues To Telecom Department ‘Immediately’

Bookmark

Telecom operator Vodafone Idea Ltd. has said its board has authorised the company to immediately pay Rs 2,500 crore, a portion of its annual gross revenue dues, to the telecom department on Monday.

The company will pay another Rs 1,000 crore before the end of the week.

"The board will take further stock of the situation to see how further additional payments can be made," the company said in a regulatory filing.

Vodafone Idea said that based on overall review of the position, the board has authorised the company to "immediately pay" to the telecom department a portion of AGR dues aggregating to Rs 2,500 crore on Monday and further Rs 1,000 crore before end of the week.

Vodafone Idea has to pay the government more than Rs 53,000 crore in AGR dues, according to the telecom department's estimates.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.