DoT asks Voda Idea to pay Rs 6,091-cr bank guarantee or Rs 5,493 cr cash by Mar 10
New Delhi, Feb 13 (PTI): The Department of Telecom (DoT) has asked debt-ridden telecom operator Vodafone Idea to either deposit a bank guarantee of Rs 6,090.7 crore or Rs 5,493.2 crore in cash for shortfall of aggregate payment made for spectrum the company acquired in 2015, the company said.
The company, however, is in discussion with the DoT to pay the dues through equity.
"The aggregate payment made by the company for each of spectrum auctions are greater than the pro-rated use of spectrum other than for the 2015 auction, where there is one-time partial shortfall and DoT has requested either to provide bank guarantee of Rs 60,907 million (Rs 6,090.7 crore) for one year or make a cash payment of Rs 54,932 million (Rs 5,493.2 crore) by March 10, 2025," Vodafone Idea Non-Executive Director Himanshu Kapania said in a note.
As on December 2024, the outstanding debt from banks (including interest accrued but not due) of the group is Rs 2,345.1 crore and deferred payment obligation towards spectrum payable over the years till FY 2044 and AGR (including interest accrued but not due) payable over the years till FY 2031 of the group aggregates to over Rs 2.27 lakh crore.
"The company continues to be in discussions with DoT and has requested to arrive at a solution for this requirement as envisaged in the telecom reforms package 2021," Kapania said.
Vodafone Idea (VIL) has obligations to clear Rs 1,200 crore loan from banks and Rs 2,188.6 crore towards spectrum dues by December 31, 2025.
The installments related to spectrum and adjusted gross revenue (AGR) instalment falling due during FY26 and shortfall related to the 2015 spectrum auction aggregate to Rs 32,723.5 crore.
Kapania said in case there is any shortfall in payment to the government then the company expects it to be converted into equity.
The government is the largest single shareholder in Vodafone Idea with 23.15 per cent stake as of December 31, 2024.
VIL Promoters -- Aditya Birla Group and Vodafone Group -- hold 14.76 per cent and 22.56 per cent stake in the company, respectively.
Vodafone Idea on Tuesday reported narrowing of losses to Rs 6,609.3 crore during the December quarter, as the debt-laden telco clinched a sequential rise in ARPU.
The revenue from operations stood at Rs 11,117.3 crore during the quarter, over 4 per cent higher than the corresponding period last year.
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KSCA expresses disappointment over missing IPL playoffs, says it was ready to host matches in B’luru
Bengaluru: The Karnataka State Cricket Association (KSCA) has issued a clarification stating that it was fully prepared to host the IPL playoffs and final matches in Bengaluru but the fixtures were allotted to other venues.
In a media note, KSCA said it was disappointed with the decision. The association stated that its president, former India cricketer Venkatesh Prasad, had been in touch with the Board of Control for Cricket in India (BCCI) and had formally conveyed the association’s readiness and interest in hosting the matches at the M. Chinnaswamy Stadium.
KSCA said the IPL matches held in Bengaluru this season were appreciated for smooth conduct, crowd management and overall experience for spectators. It said this reflected its ability to handle high-profile matches.
The association also stated that it had sent a detailed communication to the BCCI explaining its preparedness and the operational arrangements followed during the current IPL season. According to KSCA, these systems have been in place since the start of the Indian Premier League in 2008 and were followed consistently, including during previous playoff matches hosted in Bengaluru.
The clarification added that the communication sent to the BCCI was only meant to provide factual and operational details and to bring clarity on logistical and stakeholder-related requirements involved in hosting such matches.
KSCA said that although it had shown willingness and preparedness, the BCCI has decided to allocate the playoff matches to other venues. It added that the reasons for this decision have not been formally shared with the association, but it respects the authority of the board in taking such decisions.
The association further said it remains ready to host matches of national and international importance and will continue to cooperate with the BCCI, franchises, government authorities and other stakeholders for conducting cricket events.
The statement was issued by KSCA official spokesperson Vinay Mruthyunjaya, who also thanked the media and cricket fans for their continued support.
