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Vodafone Idea board approves deferment of payment by 4 years

Vodafone Idea today informed the stock exchanges its board has approved to defer the AGR-related dues by a period of four years with immediate effect.

“The Board has approved the exercise of the option of deferment of the company’s AGR related dues by a period of four years with immediate effect, in accordance with the notification dated 14 October 2021 issued by the Department of Telecommunications (DoT) to the company,” VI said in a filing

The other option offered in the said notification by DoT will be considered by the Board within the stipulated timeframe, the company said.

The government had asked telcos to inform it by 29 October whether they wanted to opt for the four-year moratorium. It also gave 90 days to the operators to indicate if they want to opt for converting interest amount pertaining to the moratorium period into equity, PTI reported on 18 October. Along with this option, the audited financial statements of the immediately preceding fiscal (2020-21) may be submitted, reported PTI.

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