VIL approaches DoT, seeks 1-year moratorium on Rs 8,200 crore spectrum instalment due in 2022

NEW DELHI: Cash-strapped Vodafone Idea Ltd (VIL) has approached the government to seek one-year moratorium on payment of spectrum instalment of over Rs 8,200 crore, due in April 2022.

VIL, in a letter to the Telecom Secretary on June 25, 2021, has said it will be “unable to pay the instalment of Rs 8,292 crore due on April 9, 2022” due to “cash being used for payment of AGR (Adjusted Gross Revenue) dues and the inability of the operations to generate the required cash in a predatory pricing situation”.

As per the letter, seen by PTI, the company has requested the Department of Telecom to grant it another year of the moratorium to pay this instalment in April 2023