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Tata Sons pegs AGR liabilities of two telecom firms at Rs 19,638 cr

Tata Teleservices, one of the first to start wireless telephony services in India, becomes cash burner for group

The move will benefit companies as their cash requirement would come down. It will unblock the cash of telecom operators that they keep with banks to furnish bank guarantees.

Tata Teleservices, one of the first companies to start wireless telephony services in India, has become a cash burner for the steel-to hotels group.

Dev Chatterjee Mumbai
Tata Sons has pegged the gross liabilities of Tata Teleservices and its listed subsidiary, Tata Tele Maharashtra, at Rs 19,638 crore for what the companies owe to the government as adjusted gross revenue (AGR).

Tata Sons provisioned Rs 1,148 crore in Financial Year 2022 compared to Rs 8,090 crore in FY 2021 for the AGR dues of the two companies, the company said.

“The company has recognized a provision for [Rs] 1,148 crores during the year ended March 31, 2022 taking the total provision to Rs 19,638 crores,” the company said in its annual report. The amount has been recorded

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First Published: Aug 23 2022 | 2:57 PM IST

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