Vodafone Idea is now exploring options to pay Rs 3,500 crore over the next few days towards its adjusted gross revenue (AGR) dues to the telecom department.
Sources said that the payment could be made on Monday, March 9. Sources close to the matter said that this move comes after senior officials told Vodafone Group CEO Nick Read that efforts are underway to prepare a relief package for the telecom industry.
Vodafone Idea on Friday, in a self-assessment, had put its total dues to the government at Rs 21,533 crore which is less than half of what the Telecom Department had earlier estimated. The company pegged its principal amount to be at Rs 6, 854 crore. Out of the total dues pegged by Vodafone Idea, the company said it had already paid Rs 3,500 earlier. The telecom department, however, pegged the company's dues at over Rs 53,000 crore.
Earlier, on Friday, Read met Finance Minister Nirmala Sitharaman and Telecom Minister Ravi Shankar Prasad separately and told the government that the company wants to make a new and good beginning in India, said sources close to the matter.
Finance Minister Nirmala Sitharaman and Vodafone Group Chief Executive Officer (CEO) Nick Read (C) during a meeting, in New Delhi. | PTI
Read also sought government assistance to keep the company afloat in the industry, the sources added.
Sources also said that during his meeting, Prasad, however, made it clear that the government is against a monopoly in the telecom sector and wants Vodafone Idea to survive and remain invested in India.
The sources said the minister conveyed India's growing economic clout and its attractiveness to foreign investors, as also the enormous size of its market.
Sources said Read also acknowledged that the AGR issue should have been addressed long back by the company.
Government sources said Vodafone Idea will have to pay at least the principal amount of its AGR dues at the earliest.
(With inputs from Agencies)
