Telecom Firms Dues To Government
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Bharti Airtel, Unit Pay Rs. 5,985 Crore to Clear 'High-Cost' 2024 Spectrum Dues
Bharti Airtel, along with Bharti Hexacom, has prepaid Rs. 5,985 billion to the government, clearing "high-cost" liabilities from the 2024 spectrum auctions. India's second-largest telecom firm has reduced its spectrum-related debt to Rs. 52,000 crore, lowering the cost of debt to 7.22%. Airtel has been actively prepaying dues from past aggressive s...
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Supreme Court Rejects Telcos' Plea on AGR Dues Owed to Government
The Supreme Court has dismissed a plea from telecom companies to reassess the dues they owe the government, resulting in a decline in the stock prices of Vodafone Idea and its counterparts. Vodafone Idea and Bharti Airtel are facing a combined debt of Rs. 1 lakh crore in outstanding dues, encompassing spectrum charges and licensing fees.
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Vodafone Idea Ordered to Convert Dues From Government Worth Over Rs. 16,000 Crore Into Equity
Vodafone Idea said on Friday the government had ordered the company to convert into equity all the dues owed to the government for use of airwaves including the interest related to payments for spectrum. The total amount to be converted into equity shares is Rs. 16,133 crore, the mobile carrier said.
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BSNL to Receive Rs. 1.64 Lakh Crore Revival Package, to Merge With BBNL
Cabinet has given its nod to allocate Rs. 1.64 lakh crore for the revival of Bharat Sanchar Nigam Limited (BSNL). The package will focus at improving services, de-stressing balance sheet and expanding fibre network. The government also announced to merge BBNL with BSNL.
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India’s 5G Spectrum Auction Could See Muted Bids as Operators Jostle for Airwaves With Private Networks
Telecom giants Reliance Jio, Airtel and Vodafone Idea are expected to make muted bids at the 5G spectrum auction in July. The operators are concerned that they could lose about 40 percent in potential revenues due to the allotment of some airwaves to enterprises for private networks. Jio, Airtel and Vodafone Idea have failed to lobby the government...
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Vi CEO Ravinder Takkar Says Government Doesn’t Want to Run the Telco
A day after Vodafone Idea (Vi) opted to convert interest on dues to government equity, its CEO said the government had made its position amply clear that it does not want to run the telco.
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New York Stock Exchange Reverses Course, To Delist 3 Chinese Firms
The New York Stock Exchange reversed course again Wednesday saying it would delist three Chinese telecom equities from trading due to new US government guidance.
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Supreme Court Gives Telcos 10 Years to Pay AGR Dues to Government
India's top court on Tuesday gave telecom firms 10 years to pay back dues they owe to the federal government after they failed to make the payment by the January deadline.
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In Telecom Dues Case, Lawyer's Folded-Hands Appeal In Top Court: 10 Facts
Former Attorney General Mukul Rohatgi today appealed to the Supreme Court with folded hands, asking it to grant at least 15 years to telecom companies to clear their dues with the government. The court had earlier warned of strong action for wrongdoing, saying it may send them "directly to jail". The loss-making telcos had initially asked for a 20...
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Supreme Court Seeks Road Map From Telcos On Dues, Vodafone Says "No Money To Even Pay Salaries"
The Supreme Court on Thursday asked private telecom operators to furnish undertakings and file affidavits giving a road map for clearing the Adjusted Gross Revenue (AGR) related dues as Vodafone Idea said that it does not have enough money to even pay salaries to its employees.
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Government Bats For Telecom Firms In Supreme Court Over Payment Of Dues
A 20-year window should be given to telecom firms to pay their AGR dues, the Centre has argued in Supreme Court today, backing the loss-making telcos which have been pushing for more time following a top court order for immediate payment.
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US Firm Hughes Fears Indian Closure, Bank Disruptions Over Unpaid Fees
US satellite broadband provider Hughes Network Systems may have to shut its Indian operations due to unpaid levies owed to the government, which could put thousands of banking services at risk, a company letter seen by Reuters showed.
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Overnight Payment Of Dues? Vodafone Will Have To Shut, Says Firm's Lawyer Mukul Rohatgi
Vodafone Idea has made a loss of over 2 lakh crores over the last decade and will have to shut shop if it has to pay all its dues to the government overnight. This would make 10,000 people jobless and inconvenience 30 crore subscribers, Mukul Rohatgi, the senior counsel for the company, told NDTV on Monday. It would also have an effect on the whole...
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Telcos Pay Part Of Government Dues, RBI Flags Fresh Concern: 10 Points
Debt-ridden telecom firms have paid part of the Rs 1.47 lakh crore they owe to the government as the Reserve Bank expressed concern on Monday about the possibility of their defaulting on bank loans. Bharti Airtel made a payment of Rs 10,000 crore on Monday. Vodafone Idea and Tata Group have already paid their share. The telecom companies -- which h...
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Vodafone Idea Reports Quarterly Loss, Sheds 7 Million Subscribers
Vodafone Idea reported a third-quarter loss on Thursday, as the troubled Indian telecom company shed millions of mobile subscribers due to intense competition.
-
Bharti Airtel, Unit Pay Rs. 5,985 Crore to Clear 'High-Cost' 2024 Spectrum Dues
Bharti Airtel, along with Bharti Hexacom, has prepaid Rs. 5,985 billion to the government, clearing "high-cost" liabilities from the 2024 spectrum auctions. India's second-largest telecom firm has reduced its spectrum-related debt to Rs. 52,000 crore, lowering the cost of debt to 7.22%. Airtel has been actively prepaying dues from past aggressive s...
-
Supreme Court Rejects Telcos' Plea on AGR Dues Owed to Government
The Supreme Court has dismissed a plea from telecom companies to reassess the dues they owe the government, resulting in a decline in the stock prices of Vodafone Idea and its counterparts. Vodafone Idea and Bharti Airtel are facing a combined debt of Rs. 1 lakh crore in outstanding dues, encompassing spectrum charges and licensing fees.
-
Vodafone Idea Ordered to Convert Dues From Government Worth Over Rs. 16,000 Crore Into Equity
Vodafone Idea said on Friday the government had ordered the company to convert into equity all the dues owed to the government for use of airwaves including the interest related to payments for spectrum. The total amount to be converted into equity shares is Rs. 16,133 crore, the mobile carrier said.
-
BSNL to Receive Rs. 1.64 Lakh Crore Revival Package, to Merge With BBNL
Cabinet has given its nod to allocate Rs. 1.64 lakh crore for the revival of Bharat Sanchar Nigam Limited (BSNL). The package will focus at improving services, de-stressing balance sheet and expanding fibre network. The government also announced to merge BBNL with BSNL.
-
India’s 5G Spectrum Auction Could See Muted Bids as Operators Jostle for Airwaves With Private Networks
Telecom giants Reliance Jio, Airtel and Vodafone Idea are expected to make muted bids at the 5G spectrum auction in July. The operators are concerned that they could lose about 40 percent in potential revenues due to the allotment of some airwaves to enterprises for private networks. Jio, Airtel and Vodafone Idea have failed to lobby the government...
-
Vi CEO Ravinder Takkar Says Government Doesn’t Want to Run the Telco
A day after Vodafone Idea (Vi) opted to convert interest on dues to government equity, its CEO said the government had made its position amply clear that it does not want to run the telco.
-
New York Stock Exchange Reverses Course, To Delist 3 Chinese Firms
The New York Stock Exchange reversed course again Wednesday saying it would delist three Chinese telecom equities from trading due to new US government guidance.
-
Supreme Court Gives Telcos 10 Years to Pay AGR Dues to Government
India's top court on Tuesday gave telecom firms 10 years to pay back dues they owe to the federal government after they failed to make the payment by the January deadline.
-
In Telecom Dues Case, Lawyer's Folded-Hands Appeal In Top Court: 10 Facts
Former Attorney General Mukul Rohatgi today appealed to the Supreme Court with folded hands, asking it to grant at least 15 years to telecom companies to clear their dues with the government. The court had earlier warned of strong action for wrongdoing, saying it may send them "directly to jail". The loss-making telcos had initially asked for a 20...
-
Supreme Court Seeks Road Map From Telcos On Dues, Vodafone Says "No Money To Even Pay Salaries"
The Supreme Court on Thursday asked private telecom operators to furnish undertakings and file affidavits giving a road map for clearing the Adjusted Gross Revenue (AGR) related dues as Vodafone Idea said that it does not have enough money to even pay salaries to its employees.
-
Government Bats For Telecom Firms In Supreme Court Over Payment Of Dues
A 20-year window should be given to telecom firms to pay their AGR dues, the Centre has argued in Supreme Court today, backing the loss-making telcos which have been pushing for more time following a top court order for immediate payment.
-
US Firm Hughes Fears Indian Closure, Bank Disruptions Over Unpaid Fees
US satellite broadband provider Hughes Network Systems may have to shut its Indian operations due to unpaid levies owed to the government, which could put thousands of banking services at risk, a company letter seen by Reuters showed.
-
Overnight Payment Of Dues? Vodafone Will Have To Shut, Says Firm's Lawyer Mukul Rohatgi
Vodafone Idea has made a loss of over 2 lakh crores over the last decade and will have to shut shop if it has to pay all its dues to the government overnight. This would make 10,000 people jobless and inconvenience 30 crore subscribers, Mukul Rohatgi, the senior counsel for the company, told NDTV on Monday. It would also have an effect on the whole...
-
Telcos Pay Part Of Government Dues, RBI Flags Fresh Concern: 10 Points
Debt-ridden telecom firms have paid part of the Rs 1.47 lakh crore they owe to the government as the Reserve Bank expressed concern on Monday about the possibility of their defaulting on bank loans. Bharti Airtel made a payment of Rs 10,000 crore on Monday. Vodafone Idea and Tata Group have already paid their share. The telecom companies -- which h...
-
Vodafone Idea Reports Quarterly Loss, Sheds 7 Million Subscribers
Vodafone Idea reported a third-quarter loss on Thursday, as the troubled Indian telecom company shed millions of mobile subscribers due to intense competition.
