Tata Sons to take Rs 74,000 cr hit on group's foray into telecom biz

Holding firm to pick up Rs 14,000 cr AGR tab of Tata Tele, which only has Rs 200 cr of cash surplus as on Dec 2019

The Tata group’s holding company, Tata Sons has already made arrangements to pay the adjusted gross revenues (AGR) dues worth Rs 14,000 crore of Tata Teleservices Ltd by raising funds from banks. At the same time, both Tata Teleservices and its listed subsidiary, Tata Teleservices (Maharashtra) Ltd have made full provisions for the AGR dues in the September and December 2019 quarters.

Tata Teleservices, as per a banking souce, has only Rs 200 crore as liquid surplus in its kitty and will have to take help from its promoter to pay the government's AGR dues. With this, Tata Sons will