May limit services to Vodafone Idea if it continues to breach its payment obligations: Indus Towers to Trai

Mumbai: In what could spell trouble for Vodafone Idea (Vi), Indus Towers has informed the Telecom Regulatory Authority of India (Trai) that it may limit services to the loss-making telco because of rising receivables.

The news led to the shares of Vodafone Idea falling nearly 4 per cent in intra-day trades on the BSE. Though it managed to recover some of the losses, the scrip ended at Rs 11.22, showing a fall of 2.35 per cent over the last close.

In the letter to Trai, Indus Towers MD Prachur Sah stated: “Vi’s defaults and actions have put Indus in serious financial constraints and a precarious situation.