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Vodafone-Idea

Centre approves major relief package for telecom sector, 100% FDI allowed

In a major relief for the stressed telecom sector, the Union Cabinet on Wednesday approved a relief package which comprises several relaxations for telecom companies, including allowing 100 per cent FDI and rationalising the definition of Adjusted Gross Revenue (AGR) by excluding non-telecom revenue of telcos from payment of statutory levies. The relief package is...

Vodafone wins Rs 20,000 crore tax case against Centre

In a major boost to telecom giant Vodafone, the company on Friday secured a ruling against the Indian government in an international arbitration tribunal with regard to over Rs 20,000 crore in tax dues. The Hague-based international arbitration tribunal has ruled against the Indian government’s imposition of tax liability on Vodafone. It said the imposition...

SC grants 10 years to telcos to repay AGR dues

In a major relief for the telecom companies, the Supreme Court (SC) on Tuesday granted 10 years to repay Adjusted Gross Revenue (AGR) dues. The SC clarified that telcos will have to pay 10 per cent of their total AGR dues by 2021. The remaining amount will have to be cleared in installments by March...

Google stake in Vodafone-Idea: Banks, MF to wait and watch

Business papers in India reported that the Mutual Fund industry and several other banks are waiting with bated breath for the Google and Vodafone-Idea deal to close. Google is reported to be looking to acquire 5% stake in the company. The company has a borrowings of Rs1.18 lakh of which Rs3,000 crore is from Indusind...

Telecom Companies Will Have to Deposit Dues Before 12 o’Clock Tonight or There Operations will be Sealed

About 6 hours after the Supreme Court rebuke, the government has instructed the telecom companies to deposit the outstanding amount by 11:59 pm today. Bharti Airtel and Vodafone Idea and other companies will have to pay the amount before the time fixed by the government. The Supreme Court had on Friday reprimanded the Department of...

Kumar Mangalam Birla: Vodafone-Idea will End If Government Doesn’t Provide Any Relief

New Delhi: Vodafone-Idea chairman Kumar Mangalam Birla attended a program on December 6. He expressed concern at answering a question asked about the future of the company. Birla said “If we we are not getting anything then I think it is end of story for Vodafone Idea.” Saying so, he hinted that he would no...