MTNL seeks Rs 4,130 crore refund, monetisation plan approval

NEW DELHI: State-controlled telco Mahanagar Telephone Nigam Limited (MTNL) is expecting the government to soon allow Rs 4,130 crore worth of refund it sought on account of interest cost borne on Broadband Wireless Access (BWA) spectrum in 2010 and a monetisation scheme that could draw as much as Rs 20,000 crore.

“We hope to get somewhere around Rs. 20,000 crore from the monetisation of 49 assets, and clearance for a refund of Rs 4,130 crore which is under active consideration,” MTNL chairman PK Purwar told ETT, adding that the fund would help in cash flow and investments in networks.