Vi banking on DoT’s ‘long-term’ solution

Vodafone Idea (Vi) is hopeful of a “long-termsolution” fromthe government, the telco told analysts in an earnings call on Tuesday.

- GULVEEN AULAKH

This follows the recent Supreme Court decision to allow the Centre to reassess Vi’s dues linked to adjusted gross revenue (AGR) up to FY17.

Welcoming the court order, Vi CEO Abhijit Kishore said the company was hopeful that the government, being a 49 per centshareholder, would lookat along-term solution. “Weare engaged with the Department of Telecommunications (DoT),” Kishore said a day after the financially stressed telecom operator announced its results for the quarter ended September.

“I cannot really give a timeline at this pointin time onwhen thiswill get solved, but the government has been extremely helpful, and we are very hopeful that it will be resolved as soon as possible,” the newly appointed chief executive said. Kishore was responding to questions on the likely resolution triggered by the apex court’s order last week.

The SC had permitted the government toreconsider and take an appropriate decision with reference to the additional AGR demand, as well as to comprehensively reassess and reconcile all AGR dues, including interest and penalties up to FY2016-17.

“We are in discussion with the DoT for the next steps on this matter,” Kishore added.