Diabytes
AGR News
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Vodafone Idea is a joint venture between Britain`s Vodafone and India`s Idea Cellular.
It has recently approved plan to raise up to Rs 25,000 crore through a combination of equity and debt instruments.
The upcoming fundraising will offer a lifeline to cash-strapped VIL.
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Vodafone Idea on Friday approved plan to raise up to Rs 25,000 crore.
The fund-raising will throw a lifeline to cash-strapped VIL.
It faces outstanding AGR dues of about Rs 50,000 crore.
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The board will also consider raising funds through securities.
Besides, VIL's 11.15 per cent stake in Indus Towers has an estimated value of Rs 4,040 crore.
Vodafone Idea has outstanding dues of Rs 58,250 crore till 2016-17.
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The apex court asked telcos to pay 10 per cent of the AGR-related dues by March 31, 2021.
The bench held that the demand made by the DoT and the verdict delivered by the top court in the matter are final.
Failure to pay the instalments of the dues would incur penalty, interest and contempt of court.
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The apex court said telecos should pay 10 per cent of the AGR-related dues by March 31, 2021.
A bench held that the demand made by the DoT and the verdict delivered by the top court in the matter are final.
It cautioned the telecom firms and said that failure to pay installments of AGR-related dues would incur penalty, interest and contempt of court.
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The Supreme Court (SC) on Thursday (January 16) rejected the petition of the telecom companies to review its judgement passed on October 24, 2019 ordering the telecom companies to pay dues amounting to around Rs 92,000 crore over the companies’ Adjusted Gross Revenues (AGR).
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It is to be noted that the legal tussle between the government and the telecom firms over the definition of AGR was ongoing for the last 14 years.
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Reliance Jio allegedly understated its revenues by over Rs 63 crore for three financial years as it did not include forex gains, resulting in "short payment" of licence fee, a draft audit report has said.
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The monthly average revenue per user (ARPU) of GSM operators increased by 5.8 percent year-on-year to Rs 118.
Telecom regulator TRAI Tuesday recommended that the USO levy, a part of licence fee paid by operators, should be reduced to 3 percent of their adjusted gross revenue (AGR) from the current 5 percent.
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