Vodafone Idea to shut shop if no relief given, says Kumar Mangalam Birla

Kumar Mangalam Birla, chairman of Vodafone Idea (VIL), on Friday categorically said that the company will shut shop if the government does not provide relief on the payment of dues arising out of the Supreme Court’s order relating to computation of adjusted gross revenue (AGR).

Birla’s comments come at a time when the company, apart from Bharti Airtel and others, has filed a limited review petition in the Supreme Court seeking waiver of interest, penalty, and interest on penalty. If the company does not get any relief from the SC, it needs to pay Rs. 53,039 crore to the government by January 24, 2020 towards licence fees and spectrum usage charge dues. The interest, penalty, and interest on penalty comprise around 75% of Vodafone Idea’s total dues.