After being reprimanded by the Supreme Court on Friday, the Telecom Ministry of India had asked all the telecom companies to pay all AGRs due by midnight of Friday. According to the report of most of the big news publishers, the AGR of all the telecom companies together makes about 1.47 lakh crore rupees. Now in a report published by livemint, Airtel has promised to pay AGR of Rs 10,000 crore to the Indian Telecom Ministry by 20 February.
Airtel says that they need some more time to calculate their dues in about 22 circles. Apart from this, they told Mint that his AGR payable is about Rs 35586 crore. It was also told in the report that Jio had paid his AGR due on 23 January itself. So now Airtel, Vodafone-Idea, and BSNL. Airtel has shared some information about itself but currently no information has been shared about Vodafone-Idea and BSNL about their AGR due.
Some experts even say that Vodafone-Idea may declare themselves bankrupt as their business in India facing continuous damage. Those of you who don’t know, for the last quarter of last year, Vodafone-Idea reported a loss of 6439 crores. While a report from Economic Times states Vodafone-Idea has to pay AGR of about Rs 53,000 crore and the company now has only the money left to pay its AGR. In such a situation, the best way for the company is to declare themselves bankrupt so that they may not able to pay the due under Bankruptcy Law.
What do you say? Share us your opinion in the comment section down below.