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Monday, 24 February 2020

Vodafone-Idea shutdown news

Vodafone-Idea shutdown news


After the Supreme Court order, the telecom company Vodafone-Idea has fallen into a big crisis, after the huge losses incurred every month, now it has become difficult for Vodafone-Idea to walk in India, hence the company's board meeting in India today Bhavishya may decide, according to a report, the company will have a decision on what other options the company has to pay the amount of DOT.

Let me tell you that in December 2019, Vodafone-Idea Chairman Kumar Mangalam Birla had said that the company will be shut down if the government does not provide financial support.

Voda Idea Status

Vodafone-Idea owes AGR of Rs 53,000 crore, while the company incurred a total loss of Rs 6,439 crore during the third quarter i.e. October-December, which is the sixth consecutive quarter when the company has incurred losses. Following this news, the company's stock has seen a decline of over 20%.

In the case of Adjusted Gross Revenue (AGR), the Supreme Court has refused to give any relief to the telecom companies, the court took a strong stand against these companies. On January 16, Arun Mishra's bench asked the telecom companies to pay the AGR to the government. The orders were given, the Supreme Court reprimanded the telecom companies for not giving the government 1.47 lakh crore dues to Shukarwar and the chief executives of all the companies Summoned to tell the said outstanding payments were not, why follow the Supreme Court's order, lambasted companies in Huye Court was asked to 1.47 trillion submitted by the end of February 14.

Airtel will pay 10 thousand crores

After the Supreme Court's decision, Airtel said that it will make a payment of 10 thousand crore rupees by February 20, the Supreme Court has given the time till March 17 for this payment, 1.64 lakh crore has 92642 crore license fees and the outstanding 55054. Crores are spectrum charges. Airtel owes Rs 35000 thousand crores and Voda Idea owes about Rs 53000 crores.

Policy change

It seems that the companies have little scope for any solution, but if the government considers it a long-term problem and can consider a change in policy.

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