Mangalam Birla upset with AGR meets telecom secretary
Vodafone-Idea deferment petition rejected by courtroom
Vodafone-Idea paid Rs 2,500 crore final Monday
Talks to pay Rs 1,000 crore by Friday
Raj Express Vodafone-Idea had sought an extension from the courtroom after being disturbed by the courtroom's latest determination associated to Adjusted Gross Revenue (AGR), which led to the rejection of Vodafone-Idea chairman Kumar Mangalam Birla as telecom secretary. It was determined to fulfill Anshu Prakash. <! –
Mangalam Birla met telecom secretary Anshu Prakash on Tuesday, February 18 today.
Birla and Telecom Secretary meet:
Today, Chairman Kumar Mangalam Birla met Telecom Secretary Anshu Prakash. However, no info has been revealed about what transpired on this assembly. Not solely this, however requested Kumar Mangalam Birla about this, he replied that, "Can't say anything about it right now". However, Vodafone-Idea had paid Rs 2,500 crore out of AGR quantity to the Department of Telecommunications on Monday itself and had requested to pay Rs 1,000 crore from the remaining quantity by Friday.
Total AGR of Vodafone-Idea Company:
For info, tell us that amongst all telecom corporations, the very best quantity of AGR is from Vodafone-Idea firm. Yes, the entire AGR of the corporate is Rs 53,038 crore. Of which the corporate paid Rs 2,500 crore on Monday and has stated to pay Rs 1,000 crore by Friday. This quantity of the AGR has come out based on the evaluation of the Department of Telecommunications. At the identical time, the courtroom has rejected the enchantment made by Vodafone-Idea to the Supreme Court on Monday.
Warning to grab financial institution assure:
According to the judgment of the Supreme Court on February 14, all telecom corporations have been ordered to repay the AGR quantity by March 17. If the businesses are unable to repay this quantity inside the given time interval, the federal government can forfeit the financial institution assure of those corporations. After this courtroom warning, the most important menace is to the Vodafone-Idea firm, as a result of the corporate can have no different approach than to cease operations.
11700 staff will turn into unemployed:
Vodafone Idea is a three way partnership between UK's Vodafone Group PLC and India's Idea Cellular, which is the weakest firm to pay billions in curiosity and never pay authorities dues after the Supreme Court ruling on Friday. If the Vodafone-Idea firm ceased operations, 11700 staff employed at Vodafone-Idea could be unemployed. The expectation of those staff now rests on this assembly today. At the identical time, Rs 10000 crore has been paid by the Airtel firm from the quantity of AGR and for extra info –