Troubled Vodafone Idea has written to the telecom department expressing its inability to pay full AGR dues unless the government takes urgent measures, including allowing staggered payment, reduction in levies and implementation of floor prices in the crisis-ridden sector.
The letter to the communications ministry comes at a time when the company is confronted with AGR dues of over Rs 53,000 crore and has paid a mere 7 per cent of its liabilities so far.
Warning that it is “not in a sound financial state”, Vodafone Idea said the company would be in a position to meet its liabilities only if the government initiates steps including allowing set offs for GST credit accumulated so far, and permitting staggered mechanism for payment of balance amount of interest, penalty, and interest on penalty. It said adjustment of GST credit due from the Government could help in meeting its AGR payment.
