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| Airtel, Vodafone Idea pay Rs 5,042 cr spectrum auction dues | ||||||||
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Vodafone Idea on Tuesday paid the government Rs 3,042 crore for airwaves bought in the auction back in 2014 while Airtel paid Rs 2,000 crore on the same head. Sources said the companies made the payments on Tuesday, which was the deadline date. Any default on spectrum dues payment from auctions entitles the Department of Telecommunications (DoT) to encash the bank guarantees.
Separately, Vodafone Idea has adjusted gross revenue (AGR) dues of Rs 53,000 crore of which it has paid Rs 3,500 crore. The company is hopeful of some direct relief for helping it pay the amount to DoT.
Airtel faces an AGR payment of Rs 35,500 crore and it has paid Rs 18,000 crore to DoT as its "full and final" payment after self-assessment. | ||||||||
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