Bharti Airtel Seeks Government Relief in AGR Saga
Bharti Airtel plans to approach the government for relief in the adjusted gross revenue (AGR) issue following a Supreme Court decision favoring Vodafone Idea. The court allowed for the reconsideration of telecom dues, opening avenues for reconciliation, as Bharti Airtel's pending AGR liabilities stand significant.
- Country:
- India
Bharti Airtel is set to seek government relief regarding adjusted gross revenue (AGR) matters, following a favorable Supreme Court ruling in Vodafone Idea's case, a company official revealed.
The top court ruled that telecom operators' AGR dues could be reconsidered beyond the 2016-17 fiscal year, effective immediately. Bharti Airtel's Vice-Chairman Gopal Vittal expressed relief at the decision, stating the company would engage the government for potential resolution.
With total AGR liabilities amounting to Rs 38,604 crore by March 2025, Bharti Airtel previously approached the Department of Telecom seeking solutions akin to Vodafone Idea's relief, which involved converting interest on deferred AGR dues into equity shares. The move hints at growing financial challenges within India's telecom sector.
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