NEW DELHI: Embattled Vodafone Idea has paid Rs 1,700 crore to the federal government as a part of fee in the direction of 5G and different spectrum purchased final yr.
The fee made by the corporate, which is going through heavy debt and mounting liabilities amidst lack of subscribers, additionally features a small portion of curiosity in the direction of delayed fee. It was supposed to pay the quantity final month.
“We have received a cheque for Rs 1,700 crore by Vodafone Idea for spectrum and interest liabilities,” an official supply mentioned.
The beleaguered telco at present runs a large gross debt of Rs 2.1 lakh crore whereas nonetheless reeling beneath crippling losses. The authorities holds a close to 33% stake within the firm in lieu of future curiosity payouts, and has been desperately attempting to work out a revival, although the 2 key promoters are but to put in recent fairness.
The fee made by the corporate, which is going through heavy debt and mounting liabilities amidst lack of subscribers, additionally features a small portion of curiosity in the direction of delayed fee. It was supposed to pay the quantity final month.
“We have received a cheque for Rs 1,700 crore by Vodafone Idea for spectrum and interest liabilities,” an official supply mentioned.
The beleaguered telco at present runs a large gross debt of Rs 2.1 lakh crore whereas nonetheless reeling beneath crippling losses. The authorities holds a close to 33% stake within the firm in lieu of future curiosity payouts, and has been desperately attempting to work out a revival, although the 2 key promoters are but to put in recent fairness.
