VI pays 50% of spectrum usage, licence charges; struggles to raise funds

Vodafone Idea (VI) has paid half of the license and spectrum usage charge (SUC) dues for the March quarter, The Economic Times (ET) has reported. Moreover, VI has assured the Department of Telecommunications (DoT) that 90 per cent of the dues for the June quarter will be cleared in a phased manner along with the interest.

Government officials have said that if the telco honours its payment commitments, the DoT will not invoke the bank guarantees. However, in case of failure, the guarantees will be encashed, the DoT officials told ET. The DoT has not met any potential investor in the company so far, the officials added.