AGR liabilities calculated by Vodafone way below govt assessment

PTI  | Deccan Chronicle

Business, Companies

The company has filed its self assessment of AGR liabilities with the Department of Telecom

Representational image (ANI photo)

New Delhi: Vodafone Idea on Friday said its adjusted gross revenue (AGR) liabilities stand at ₹21,533 crore as per its self assessment, and that the calculation of dues has been filed with the telecom department.

The statement assumes significance as the government has estimated the company's dues at over ₹53,000 crore, of which it has so far paid only ₹3,500 crore in two tranches.

The AGR liabilities calculated by Vodafone Idea are only 41 per cent of the government's assessment.

Vodafone Group CEO Nick Read is currently meeting Telecom Minister Ravi Shankar Prasad to discuss options to keep VIL afloat.

The company said in a BSE filing, “The self assessment discloses the company's AGR liabilities to aggregate ₹21,533 crore including a principle amount of ₹6,854 crore for the period from FY 2006-07 to FY 2018-19 and interest up to February 2020."