Vodafone Idea may pay part of AGR dues to stay afloat

MUMBAI | NEW DELHI: Vodafone IdeaNSE 6.67 % (VIL) may offer the government a small part of its statutory dues by January 23 to ensure it doesn’t get a defaulter’s tag or incur the displeasure of Supreme Court, and then seek some relief, in a bid to bring back the telecom company from the jaws of insolvency, three people familiar with the matter said. Simultaneously, the telco plans to seek an extension of the January 23 deadline from the Supreme Court.

“The top management have chalked out the next steps after the apex court dismissed the telco’s review petition,” said one of the people.

The government has estimated Vodafone Idea’s total dues, which include licence fees, spectrum usage charges (SUC), penalties and interest, at over Rs 53,000 crore but the telco is expected to submit a lower figure in its self-assessment.