New Delhi: Communications minister Jyotiraditya Scindia on Monday stated govt is inspecting “repercussions” of SC’s resolution to dismiss the healing petitions relating to the Oct 2019 telecom AGR judgement, however added that the highest courtroom’s order “has to be executed”. The feedback come on a day when Vodafone Idea CEO Akshaya Moondra advised buyers that the corporate has “initiated fresh dialogue with govt on likely remedies” after the SC resolution.
Scindia, briefing the media on developments in first 100 days of third time period of the Modi govt, stated the division of telecom is seized of the matter. “Whatever the SC has ordained, the process has to be executed. We are examining… (and) see what repercussions.”
However, he added that the telecom sector is in good well being and can witness development. “Our telecom sector is an extremely robust sector where we have four players (Jio, Airtel, Vodafone Idea, and BSNL/MTNL). I look at a very strong telecom sector moving forward.”
Earlier in the course of the day, Vodafone Idea briefed buyers about impact of the SC resolution and in addition about its future funding plans. Moondra stated the end result of the SC resolution on healing petition is just not on anticipated strains. “The outcome of the curated petition is disappointing, (but) it does not have any impact on long-term business plan of the company and its liabilities.”
He stated the corporate expects govt to provide a course on future motion publish the SC resolution.
“For AGR dues case, we believe this will be the final outcome from the court. The action on AGR dues now falls onto govt. We are in the process of putting request with govt for AGR dues.”
Vodafone Idea’s inventory had bought a hammering after the SC order. It has tried to assuage investor considerations by saying investments in community enlargement. The firm has promised a “smart turnaround” by lining up Rs 55,000 crore funding, together with Rs 30,000 crore spending on community gear buy from Nokia, Ericsson and Samsung.
Scindia, briefing the media on developments in first 100 days of third time period of the Modi govt, stated the division of telecom is seized of the matter. “Whatever the SC has ordained, the process has to be executed. We are examining… (and) see what repercussions.”
However, he added that the telecom sector is in good well being and can witness development. “Our telecom sector is an extremely robust sector where we have four players (Jio, Airtel, Vodafone Idea, and BSNL/MTNL). I look at a very strong telecom sector moving forward.”
Earlier in the course of the day, Vodafone Idea briefed buyers about impact of the SC resolution and in addition about its future funding plans. Moondra stated the end result of the SC resolution on healing petition is just not on anticipated strains. “The outcome of the curated petition is disappointing, (but) it does not have any impact on long-term business plan of the company and its liabilities.”
He stated the corporate expects govt to provide a course on future motion publish the SC resolution.
“For AGR dues case, we believe this will be the final outcome from the court. The action on AGR dues now falls onto govt. We are in the process of putting request with govt for AGR dues.”
Vodafone Idea’s inventory had bought a hammering after the SC order. It has tried to assuage investor considerations by saying investments in community enlargement. The firm has promised a “smart turnaround” by lining up Rs 55,000 crore funding, together with Rs 30,000 crore spending on community gear buy from Nokia, Ericsson and Samsung.
