K M Birla offers to hand over his Vodafone Idea stake to government

Aditya Birla group Chairman Kumar Mangalam Birla has offered to hand over his stake in debt-laden Vodafone Idea Ltd (VIL) to the government or any other entity that the government may consider worthy to keep the company operational.

The billionaire businessman made the offer in June in a letter to Cabinet Secretary Rajiv Gauba.

According to official data, VIL had an adjusted gross revenue (AGR) liability of Rs 58,254 crore out of which the company has paid Rs 7,854.37 crore and Rs 50,399.63 crore is outstanding.

VIL alongwith Bharti Airtel had approached the Supreme Court for correction in the government calculations but their plea was rejected.