DoT asks Voda Idea to pay Rs 6,091-cr bank guarantee or Rs 5,493 cr cash by March 10

Vodafone Concept has been asked by the Department of Telecommunications to give a financial institution warranty or cash money settlement because of a shortfall in range repayment from 2015. The business is discussing with DoT to convert the dues into equity as part of the telecom reforms bundle. Vodafone Idea’s losses tightened in the December quarter, with profits showing a year-on-year increase.

The Division of Telecom (DoT) has asked debt-ridden telecom driver Vodafone Idea to either deposit a financial institution assurance of Rs 6,090.7 crore or Rs 5,493.2 crore in cash for shortage of accumulated repayment produced spectrum the firm acquired in 2015, the company claimed. The business, nonetheless, is in conversation with the DoT to pay the fees through equity.

“The aggregate repayment made by the company for every of range public auctions are above the pro-rated use range besides for the 2015 auction, where there is single partial shortfall and DoT has actually requested either to give bank warranty of Rs 60,907 million (Rs 6,090.7 crore) for one year or make a cash money payment of Rs 54,932 million (Rs 5,493.2 crore) by March 10, 2025,” Vodafone Concept Non-Executive Director Himanshu Kapania said in a note.

As on December 2024, the arrearage from financial institutions (consisting of rate of interest accumulated but not due) of the group is Rs 2,345.1 crore and credit responsibility in the direction of range payable for many years till FY 2044 and AGR (including passion accumulated however not due) payable throughout the years till FY 2031 of the group accumulations to over Rs 2.27 lakh crore.