Pending spectrum and adjusted gross revenue payments: Airtel opts for 4-yr moratorium to pay dues

Bharti Airtel on Monday became the second of the three private telcos to opt for the option to defer by four years the payment of spectrum as well as adjusted gross revenue (AGR) dues.

In a notification to the exchanges, Airtel said it would take both the options with immediate effect. Last week, Vodafone Idea (Vi) had told the Department of Telecommunications (DoT) that it would opt for the four-year moratorium for the deferment of the two dues, namely the spectrum as well as the AGR dues.

The Centre recently approved a relief package for the sector that includes a four-year break for companies from paying statutory dues, permission to share scarce airwaves, change in the definition of revenue on which levies are paid and 100 per cent foreign investment via the automatic route.