Airtel opts to defer payment of Rs 3,000-cr AGR dues up to FY19 by 4 years

Bharti Airtel has opted for a four-year moratorium on the repayment of around Rs 3,000 crore of adjusted gross revenue (AGR) dues to the government. The company, however, has decided not to opt for a conversion of interest on the deferred dues into equity for the government.

Last September, the Union Cabinet had announced a telecom reforms package providing a slew of benefits for ease of doing business and liquidity. Telecom companies were offered a four-year moratorium on their AGR dues spectrum dues up to FY17, in line with a Supreme Court order. Both Airtel and Vodafone Idea availed of the offer last October.