Vodafone Idea has decided to exercise the moratorium of four years — October 2021 to September 2025 — offered by the India government on payments related to spectrum dues.
The moratorium of 4 years is in accordance with the Department of Telecommunication’s October 14 notification to provide relief by allowing cash-strapped telecoms the option to defer their payments for spectrum acquired in the previous rounds of auction. Mobile operators were originally supposed to pay the dues in annual installments over 10 years.
Vodafone Idea in a stock exchange notice said it will also consider other reliefs being provided by the DoT within the stipulated timeframe.
The DoT had given telecoms time till October 29 to decide on opting for the 4-year payment moratorium on spectrum payments and AGR dues. Vodafone Idea has time until October 29 to confirm whether they will be opting for the AGR moratorium as well. Other telecoms have not yet responded to the DoT’s notice.
Vodafone Idea has dues of Rs 1.9 lakh crore as of June including 1.6 lakh crore to the India government.
