The CEO said that Vodafone Idea had not accelerated payments to any banks.
A day after posting the worst quarterly loss in India’s corporate history, telecom operator Vodafone Idea’s chief executive officer Ravinder Takkar said the Supreme Court judgment on Adjusted Gross Revenue (AGR) would have significant implications on the telecom industry and that the company was in the process of filing a review petition.
While briefing the media through a conference call on Friday, Ravinder Takkar asserted that the government was aware of the tremendous stress faced by operators and was determined to see three private players and one public player in the telecom sector.
“We engaged with the government very positively even before the AGR case and the response was constructive,” said Ravinder Takkar, adding that recommendations to the government had been made via the Cellular Operations Association of India (COAI) for the sector.
“Given the stress on the sector, it gives the government additional ability to act in the interest of the overall economy,” he added.
The CEO said that Vodafone Idea had not accelerated payments to any banks.
On the issue of floor pricing, Tkkar said review of floor pricing, if done, would be positive for the industry”. However, it is up to the government to decide.
Meanwhile, Trai chairman R S Sharma said that the telecom department has not approached the regulator for any views on floor price for tariffs.
“We have not received anything,” Sharma said when asked if the DoT has approached Telecom Regulatory Authority of India (Trai) for its views on floor price or minimum tariff fixation for mobile services.
Vodafone Idea on Thursday reported consolidated loss of Rs 50,921 crore – highest ever loss posted by any Indian corporate – for the second quarter ended September 30, on account of liability arising out of the Supreme Court order in the adjusted gross revenue case.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
