Bharti Airtel has opted for a four-year moratorium on the repayment of around ₹3,000 crore of adjusted gross revenue (AGR) dues to the government. The company, however, has decided not to opt for a conversion of interest on the deferred dues into equity for the government.
Last September, the Union Cabinet had announced a telecom reforms package providing a slew of benefits for ease of doing business and liquidity.
Telecom companies were offered a four-year moratorium on their AGR dues spectrum dues up to FY17, in line with a Supreme Court order.
Both Airtel as well as Vodafone Idea had availed of the offer in October last year.
About a fortnight ago, the department of telecommunications (DOT) extended the benefit a second time and now offered a four-year moratorium for AGR dues up to FY19.
This story is from the July 01, 2022 edition of Business Standard.
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This story is from the July 01, 2022 edition of Business Standard.
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