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AGR shock for Vodafone-Idea balance sheet as promoters may not fund dues

Promoters unlikely to fund dues; telecom firm will have to raise funds on its own

Krishna Kant & Dev Chatterjee  |  Mumbai 

The promoters of Vodafone Idea have indicated they are not liable for the Rs 28,300-crore dues imposed on the company because of the Supreme Court decision on the adjusted gross revenue (AGR) for mobile operators. This is likely to adversely impact Vodafone Idea balance sheet as the company will have to raise funds on its own books.

According to the apex court judgment, telecom operators have three months to pay the AGR dues. The promoters of Vodafone Idea, Vodafone PLC and the Aditya Birla group entities, are of the opinion that the liability is on the company and the promoters’ ...

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First Published: Mon, October 28 2019. 00:20 IST
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