Tata Sons offers guarantee to lenders of telecom arm, will take up AGR dues

Group made the guarantee in September, before the government offered a four-year moratorium to the company.

Tata Sons, the holding company of Tata Group, has submitted a letter of comfort to lenders of Tata Teleservices (TTSL) to meet any obligations of the telecommunications (telecom) company. 

The guarantee to its unlisted subsidiary was given in September just before the Union government decided to offer a four-year moratorium to the company to pay its past adjusted gross revenue (AGR) dues worth Rs 14,000 crore, said a banking source. An email to Tata Sons did not elicit any response.

The firm has already infused about Rs 46,600 crore till June 2019 in TTSL, thus, helping the company repay its debt taken