New Delhi, Jan 9 (.) Vodafone Idea on Friday confirmed that the government has frozen its adjusted gross revenue (AGR) dues, offering significant relief to the debt-laden telecom operator.
In an exchange filing, the company said it will begin paying a maximum of Rs 124 crore annually over the next six years, from March 2026 to March 2031.
The telco will subsequently pay Rs 100 crore every year from March 2032 to March 2035, it said. The clarification comes more than a week after reports indicated that the Centre had frozen Vodafone Idea’s AGR liability at Rs 87,695 crore, covering principal, interest and interest on penalty for the period from FY 2006-07 to FY 2018-19, and extended the repayment timeline.
According to the filing, the remaining AGR dues, after a reassessment, will be paid in equal annual instalments over six years, from March 2036 to March 2041.
“A committee is to be constituted by the Department of Telecommunications (DoT) to reassess the AGR dues, whose decision shall be final. Thereafter, the reassessed amount is to be repaid between March 2036 to March 2041 in equal annual instalments,” Vodafone Idea said.
The development follows the government’s decision to offer a fresh relief package to the carrier by freezing the AGR dues at Rs 87,695 crore and allowing repayment over a 10-year period starting FY 2031-32. The Centre currently holds a 49% stake in Vodafone Idea.
The relief also comes in the backdrop of a recent Supreme Court verdict that allowed the government to reassess and reconcile Vodafone Idea’s AGR dues up to the financial year 2016-17, opening the door for recalibration of the company’s long-standing liabilities.
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