The CEO of Vodafone Idea, which has been in controversy for a long time, has written a letter to millions of its consumers. What is the meaning of the arrival of this letter in the midst of controversies, why the company had to write the letter and what has been said in this letter, know the full details.
Amid the existential crisis facing the company, Vodafone Idea CEO Ravinder Takkar has reaffirmed the telecom’s commitment to provide “superior services and best-in-class proposition” to the consumers. Thanking the users for their continued support as the company nears the first anniversary of the ‘Vi’ branding, Takkar said that Vi has come up with the promise of a better tomorrow, which is a combination of technology, services and technology for Digital India and Digital India. and brings out the best in solutions.
In the mailer to consumers, Takkar said that the company will continue to deliver on this promise of keeping users ahead. “Looking ahead, we reinforce our commitment to continue to provide you with superior services and best-in-class offers,” he added.
however, Takkar did not make any mention of the issues being faced by VIL in its note.
He said the past year saw the effects of an unprecedented global pandemic and tested the resilience of the human spirit. “This year saw the birth of the youngest telecom brand in the country -Vi- which in less than a year has become a brand you love,” he added.
Taking a year-long journey, Takkar said, the company has accelerated and completed network integration across the country to ensure that users stay connected at all times. He said, “Our network warriors made heroic efforts to keep the network running 24×7 during the lockdown, so that you and your loved ones can work, study, transact and have a dose of entertainment in the safety of your homes. be able to obtain.”
The company has built a 5G-ready network
The top VIL official said the company has created a 5G-ready network and incorporated technologies to address the needs of smart cities, smart machines and smart citizens. He added, “To help you do more, achieve more and get ahead in life, Vi has brought together a bouquet of digital services to offer players in the areas of entertainment content, learning and upskilling, health and wellness and business. collaborated.”
Kumar Mangalam Birla left president of
the background of the desperate struggle to stay away notes Vodafone Idea CEO for consumers importance in. Billionaire Kumar Mangalam Birla recently stepped down as the chairman of Vodafone Idea Ltd, within two months of an offer to hand over Aditya Birla Group’s stake in the debt-ridden telco to the government, in a bid to avert a crisis for the telecom company.
What was the matter
VIL had AGR liability of Rs 58,254 crore, of which the company has paid Rs 7,854.3 crore and outstanding is Rs 50,399.6 crore. VIL’s gross debt, excluding lease liabilities, stood at Rs 1,80,310 crore as on March 31, 2021. This amount included deferred spectrum payment obligations of Rs 96,270 crore and loans from banks and financial institutions of Rs 23,080 crore, apart from AGR liability. .
Earlier this week, Vodafone Idea filed a review petition in the Supreme Court after the apex court recently dismissed its plea for rectification of alleged errors in calculation of adjusted gross revenue (AGR) related dues.
In its review petition, VIL has said that it is a “surrogate of justice” that the company has been barred from questioning the arithmetical errors/omissions for which it has to pay around Rs 25,000 crore (principal plus interest on penalty, penalty and interest). 5,932 crore) will be spent.).
Vodafone Idea has said its arguments have been overruled by the order under review and said the refusal could result in the company going down and leaving its nearly 273 million customers “high and dry”. Other repercussions include the loss of investment in the business and the impact on the livelihoods of employees, as well as distributors, retailers and store employees.
