Page 7 - Vodafone India

Vodafone Idea pegs dues at Rs 21,533 cr, less than half of DoT estimate

Beleaguered Vodafone Idea Ltd on Friday put its total dues to the government following a Supreme Court order at Rs 21,533 crore -- less than half of what the Department of Telecommunications (DoT) has estimated. On a day when Vodafone Group CEO Nick Read met top ministers, including Finance Minister Nirmala Sitharaman and Telecom Minister Ravi Shankar Prasad, the UK telecom giant's India joint venture, Vodafone Idea Ltd in a statement said it has already paid Rs 3,500 crore out of the "self-assessed" liability of Rs 21,533 crore. The DoT, following the Supreme Court ruling in October last year which said that all kinds of income generated by telecom companies will be considered for calculating government dues, had estimated Vodafone Idea's liabilities at over Rs 53,000 crore. On March 4, Minister of State for Communications & IT Sanjay Dhotre, in a written reply to a question in the Lok Sabha, stated that Idea Cellular owed the government Rs 15,230.37 crore and Vodafone Group of ..

Voda Idea, Airtel, Jio pay over Rs 6,000 cr to DoT towards spectrum dues

Vodafone Idea's payment in particular assumes significance as the company has been under tremendous financial pressure and is confronted with AGR liabilities of over Rs 53,000 crore

The AGR case is a triumph of bureaucratic obstinacy over good sense

While it raises the larger question of the Court's role on matters that have a major impact on the economy, much of the blame also lies with the govt for poor handling of the issue

Airtel, Voda Idea make part payment; DoT mulls encashing bank guarantees

While Airtel paid Rs 10,000 crore, Vodafone Idea Ltd put in Rs 2,500 crore and promised to pay another Rs 1,000 crore before the end of the week

Top events of the day: Telcos to pay AGR dues, Coronavirus, and more

Bharti Airtel, Voda Idea and Tata Teleservices are jointly liable to pay dues of over Rs 1 trn, but they have informed the DoT of making only partial payment, according their to representatives.

Letter to BS: First apologise to Voda and then withdraw tax-related demands

By doing this, we will not only be saving lakhs of jobs and billions of public money

AGR-hit Vodafone Idea postpones Q3 conference call with analysts

The Supreme Court on Friday directed the top echelons of telecom firms to explain why contempt action should not be taken against them for non-compliance of its AGR order

Budget 2020 has not accounted for telcos' AGR dues: DEA secretary

But receipts from firms stand at a whopping Rs 1.33 trillion for FY21

Govt considering SPV with 5G sweetener as solution to telecom crisis

Government will stop collecting annual licence fee and spectrum usage charge from operators, according to the tentative proposal. Instead, the operators will give fees to the SPV.

Vodafone Idea's troubles over spectrum dues casts shadow on more MF schemes

Mutual funds' overall debt exposure to Vodafone Idea stood at Rs 3,389 crore in December 2019

Telecom revenues likely to exceed target by Rs 50,000 crore in 2019-20

In its July Budget, the government had targeted more than Rs 50,519 crore in 2019-20 from the telecom sector, an increase of 28% from the previous year

Telecom lobby meets Sitharaman, seeks help in meeting SC-ordered dues

Telecom companies owe the government Rs 92,642 crore in unpaid licence fee, and another Rs 55,054 crore in outstanding spectrum usage charges.

Vodafone Idea mobile customer base drops by 36.3 mn to 336.3 mn in Nov

The telecom operator had reported an increase of 1.89 lakh mobile customers on its network in October

No govt nod to Bharti Infra, Indus merger; deadline extended by 2 months

The merger proposes to create a company with over 163,000 towers having received clearance from the Chandigarh Bench of the National Company Law Tribunal in June, this year

TRAI looking at setting floor price to ensure viability of telcos

Free voice calls and dirt cheap data by billionaire Mukesh Ambani's Jio has wrecked havoc on the industry, which squeezed finances to match them

Why MNCs are changing their India tune

The reasons are myriad - maturing of markets, change in business strategy -but there is a clear indication that global firms are not willing to tolerate any more slack in India

When telecom stood for pass to windfall gains, and not financial stress

Looking back to a time when the biggest telcos and funds from across the world queued up with top dollars, many in the Indian telecom business rose up the rich list, and how

Under financial stress, Voda-idea to 'suitably raise tariff' from Dec 1

The company, however, did not disclose the range or details of the proposed tariff hike

If Vodafone actually quits, India will be the bigger loser

The govt must take a call at the highest level at the earliest, treating Vodafone's exit call with all the seriousness that it deserves

Govt objects to Voda CEO's comments on India JV being pushed to liquidation

The central government has objected to the reported comments of Nick Read, chief executive of Vodafone, that the India unit of the telecom major was headed for liquidation due to, among other factors, the Supreme Court decision requiring payment of Rs 28,300 crore as spectrum dues.According to media reports, Union telecom and communications minister Ravi Shankar Prasad spoke to Vodafone Idea chairman Kumar Mangalam Birla to express displeasure. Vodafone Plc, the parent entity, says its chief's comments were taken "out of context", presenting an incorrect picture. Vodafone Plc owns 44.3 per cent stake in Vodafone Idea; the Aditya Birla Group holds 26.5 per cent.According to the transcript of Read's utterances, he'd told analysts that due to the Supreme Court's ruling on the correct way to determine telecom company dues from their Adjusted Gross Revenue (AGR), on top of the financial stress already present, the situation of the telecom sector in India and at Vodafone Idea was a ...