Airtel has taken a moratorium on spectrum and AGR payment, will pay the dues in the next four years
Airtel has taken a moratorium of four years on AGR dues.
New Delhi:
Bharti Airtel said on Monday that he adjusted gross revenue (Adjusted Gross Revenue- AGR) will take advantage of the moratorium on payment and spectrum dues. A source gave this information. Let us inform that under the recently announced relief package for the telecom sector, the companies have been given the option of moratorium for four years for payment of dues. Airtel said in the information given to the stock exchange that the company will consider other options offered by the Department of Telecommunications within the stipulated time frame.
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The telecom company said, “…the company has decided to opt for deferment of payment of spectrum auction payment installment and AGR dues for four years…” According to sources, Airtel has The Department of Telecommunications was informed about the decision on Friday. He said that the company has sufficient time to decide on the option of converting the interest amount into equity during the moratorium period.
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As part of significant reforms for the telecom sector, the government recently wrote to telcos including Bharti Airtel, Vodafone Idea and Reliance Jio asking them to inform by October 29 whether they would allow a moratorium of four years for payment of dues. will choose the option. In addition, telcos have been given 90 days to state whether they are willing to convert the interest amount into equity during the moratorium period.
Last week Vodafone Idea said that its board of directors had decided to opt for a moratorium period of four years for spectrum payments. The company said that other options given in the notification of the Department of Telecommunications will be considered within the stipulated time frame.
(This news has not been edited by NDTV team. It has been published directly from Syndicate feed.)