Vodafone Idea is currently assessing the AGR dues and will pay this in the next few days, the company has said in an exchange filing.
“We wish to inform that post the hearing yesterday, the company has received letters from the Department of Telecommunications (DoT) directing immediate payment,” Vodafone Idea said in a regulatory filing.
“The company proposes to pay the amount so assessed in the next few days. As disclosed in the company’s financial statements for the quarter ending December 31, 2019, the company’s ability to continue as a going concern is essentially dependent on a positive outcome of the application for modification of the Supplementary Order”, it said.
The company is currently assessing the amount that it will be able to pay to DoT and it proposes to pay the amount so assessed in the next few days, Vodafone Idea said.
Though the company said it will pay up but the fact that it has again mentioned the company’s ability to continue as a going concern is essentially dependent on a positive outcome of the application for modification of the Supplementary Order, also raises doubts over its long term ability over sustaining on account of huge losses and paying such large amount of dues.
The company did not disclose how it plans to raise the money and how much it would pay. This comes after the Supreme Court on Friday slammed mobile service operators and the department of telecommunications (DoT) for failing to comply with its verdict, which mandated telecom companies to pay the adjusted gross revenue (AGR) dues of over Rs 1 trillion to the DoT by January 23.