Bharti Airtel Opts For Deferment Of Additional AGR Dues Up To FY19
The DoT had asked telecom operators to pay AGR dues for two additional financial years beyond 2016-17.
Bharti Airtel Ltd. has opted for deferment of payment of adjusted gross revenue dues up to financial year 2018-19, for a period of four years.
The telecom giant has informed the Department of Telecom that it will not avail the option of conversion of interest dues into equity, the company said in its exchange filing.
The DoT had asked telecom operators to pay AGR dues for two additional financial years beyond 2016-17, which were not covered under the Supreme Court's order.
"We wish to inform you that the company has informed to DoT that the company shall avail the option to defer the payment of the AGR dues up to FY 2018-19 which are not tabulated in the Hon'ble Supreme Court Order, up to four years (applicable from FY 2021-22 to FY 2024-25) while retaining the right to prepay the installment amounts," the exchange filing said.
A week ago, Vodafone Idea Ltd. had opted for deferment of additional AGR dues of Rs 8,837 crore by a period of four years.
Last year, the central government had approved a relief package, after the Supreme Court issued an order asking operators to pay pending dues worth thousands of crores of rupees, based on an expanded definition of AGR.
The relief package included a freeze on the repayment of statutory dues on AGR and spectrum payments for four years.