Page 9 - Telcos

Govt is well aware of implications if relief not provided to telcos: COAI

Industry body COAI on Friday said the government is well aware of implications of leaving the stressed telecom sector without a relief package, as it urged policymakers to use "tools" available to find appropriate solutions expeditiously. "The industry is in urgent need of relief measures, and we urge the government to come up with appropriate solutions expeditiously and resolve the matter," Cellular Operators' Association of India (COAI) Director General Rajan Mathews said. On Wednesday, the apex court rejected the telcos' self-assessed adjusted gross revenue (AGR) dues and ordered them to pay the principal together with interest and penalties. It stated that non-payment of dues would tantamount to contempt of court. "The government can exercise the tools that are available and move forward on that basis," Mathews said. Telecom companies such as Bharti Airtel, Vodafone Idea and Tata are in a bind as their combined self-assessment of dues to the government are a whopping Rs 82,300

Telcos' stressed assets: IBA tries to overcome the stumbling blocks

The IBA's request highlights the roadblocks in resolving stress assets in this sector under the IBC

DoT units routinely ask us for bulk call records: Telcos flag concern

Telcos said that DoT units asked for call data records for specific routes in Delhi with residences of Ministers, Members of Parliament, Judges and important offices

Telcos gain on report evaluation of their AGR math may take 6 months

Vodafone Idea surged as much as 23.5 per cent to Rs 4.94 on the BSE while Bharti Airtel was up 2.46 per cent to Rs 508.5

Telcos seek floor price for data, voice tariffs to be left to markets

The telcos said that data prices should be regulated keeping in mind the financial health of the sector

Tower firms stare at Rs 8,000-crore loss if Vodafone Idea shuts business

Company uses around 180,000 towers with various vendors

Telcos need to wait more for relief on AGR as govt scrambles over data

Members of the DCC refused to comment on the discussions held during the two-hour meet. More details are required for reconciliation of AGR data, sources said

Telecom players should act fast to counter menace of online frauds: Paytm

Paytm Payments Bank, which also houses the Paytm wallet, recently filed an FIR against fraudsters

Telecom companies to submit self-assessment documents on AGR maths

However, no deadline has been given to companies to submit the supporting documents

DoT to begin test checks, verify telcos' claims of lower AGR dues: Report

The 'test check' will happen for all telcom firms but will start with those claiming they have already made full and final settlement towards their statutory liabilities

Govt should offer one-time settlement to telcos, waive penalties: S C Garg

Former finance secretary Subhash Chandra Garg on Wednesday said the government should offer a one-time settlement scheme to the telecom companies to pay the principal due amount as per the AGR definition and waive the penal interest and penalties. The massive Rs 1.47 lakh crore of adjusted gross revenue (AGR) dues are pushing telecom firms to the brink. In a blog titled 'Rebuilding Telecom Business in India', Garg said the telecom crisis in India is not just limited to AGR-related issues. "Offer a one-time settlement scheme to the telecom companies (both operating and under resolution) to pay the principal due amount as per the AGR definition as contained in the licensing agreements and waive the penal interest and penalties. "Alternatively, appoint a board for Vodafone Idea Ltd by ousting the current board on the lines of action taken in the case of IL&FS and DHFL and secure a moratorium of some time on servicing of loans and government dues," he said. Garg noted that the telecom

Payment of AGR dues to slash fiscal deficit to 3.5% in FY20: SBI economists

According to the revised budget estimates, the government expects a fiscal deficit of 3.8 per cent in 2019-20

Customers may have to pay the price as telecom industry consolidates

Consolidation, after Reliance Jio's entry and the price war, has shrunk the number of players from a peak of 16 to just 4

Top headlines: SC accepts govt's proposal on Unitech, telcos' plea in SC

India's richest 1 per cent hold more than four-times the wealth held by 953 million people who make up for the bottom 70 per cent of the country's population, while the total wealth of all Indian bill

AGR dues: Multiple provident funds had loaned money to crisis-hit Voda Idea

Vodafone Idea is required to pay Rs 53,038 crore to the government as per the Supreme Court order which came in October

Telecom performance in Q2: AGR drops 4.5 % QoQ; Jio reports 6.75% growth

Gross revenue and AGR of telecom service sector for the quarter was Rs 59,992 crore and Rs 37,338 crore, respectively

DoT cracks whip, tells telcos to pay pending Rs 1.47-trn AGR dues soon

Further, self-assessment of dues and payments along with the submission of relevant documents as per a licence finance wing letter of November 13 needs to be expedited, the letter said

Congress says Centre promoting pvt telcos, asks if electoral bonds involved

Congress spokesperson Pawan Khera alleged public sector companies like BSNL and MTNL, which were making profits under the previous UPA 1 and 2 governments, were now running at losses

After biggest quarterly loss, Vodafone Idea seeks AGR relief from govt

The finance ministry won't back down from collecting the amount, which needs to be paid within three months as per the court order

AGR woes: Bharti Airtel, Voda Idea post a combined Rs 74,000-cr loss in Q2

Vodafone Idea and Airtel have made provisions for their liabilities arising from the Supreme Court order in their latest September quarter results