Our Bureau
Mumbai
Vodafone Idea Ltd, India’s third-largest telecom operator, is currently struggling with the payment of huge regulatory dues. The company has now indulged itself in discussions with the central government regarding the ways that can resolve the issue of substantial dues. This move by the company has come just two weeks after the Supreme Court rejected their proposal for a waiver on their related payments.
Akshaya Moondra, the Chief Executive at Vodafone Idea Limited, was talking about the company’s tactics to manage the ongoing struggles. Moondra has stated that the company is engaging in talks with several banks who can help them secure debt funding for its long-term expansion. That is the main reason why they are talking to the government as the banks won’t lend them loans until they receive clarity on the dues that the company owes to the government.
“I see no reason why the government should be constrained in any way to offer relief…,” Moondra said on Monday while he was on a call with the analysts to discuss the earnings for the March-quarter of Vodafone Idea.
Vodafone Idea is set to enhance its network and infrastructure for which the company has decided to incur capital expenditure of ₹5,000-6,000 crore for the first half of 2025-26. But for the second half of the fiscal year the company’s expenditure would depend upon the funds provided by the bank.
Vodafone Idea is under the debt of ₹83,400 crore in AGR dues to the government. They asked the Supreme Court for the waiver of over ₹45,000 crore which included the penalty, interest and the interest on penalty.
On May 19th the Supreme Court however rejected the petition of the company, but Justice J.B. Pardiwala and R Mahadevan have clarified that if the government would step in to help them the court would not interfere. However, the court’s written order on 21st May had no mention of such a statement.
