AGR case: Vodafone Idea proposes to pay statutory dues in next few days

Vodafone Idea said that the company's ability to continue as a going concern will depend on a favourable order on its modification plea filed before the apex court

Vodafone Idea announced on Saturday that it would pay its adjusted gross revenue (AGR) dues to the government in the next few days in line with a Supreme Court order.

In a statement, the company said that with respect to the filing of an application for modification of the supplementary Order of the Supreme Court, dated October 24, 2019, and post the hearing yesterday, VIL had received letters from the Department of Telecommunications (DoT) seeking immediate payment. 

"The company is currently assessing the amount that it will be able to pay to DoT towards the dues calculated based on AGR (Adjusted Gross Revenue), as interpreted by the Supreme Court in its order dated 24 October 2019. The company proposes to pay the amount so assessed in the next few days," it said. 

As disclosed in the company's financial statement for the quarter ending December 31, 2019, the company's ability to continue as a going concern is essentially dependent on a positive outcome of the application for modification of the supplementary order, it said. The company will have to pay Rs 54,000 crore in AGR dues to the government.

Read full statement here.