With govt telecom relief package, Vodafone Idea gets AGR breather but balance sheet pinch to continue
The telecoms sector's relief package is anticipated to benefit not just all wireless providers, but particularly Vodafone Idea, which is said to be closing. Vodafone Idea, India's third-largest operator by user base, is reported to be on the verge of bankruptcy due to rising debt and operational costs.
The Union government has been in talks with several stakeholders, including banks, for a package for the sector as Vodafone Idea continues to bleed following heavy losses
A three-judge bench led by Justice L Nageswara Rao allowed Bharti Airtel to go to the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) for relief over the issue
Total quarterly revenue for the cash-strapped operator fell to Rs 9152.3 crore in the April-June from Rs 9,607.6 crore when compared sequentially
The matter will be heard by a three-judge bench headed by Justice L. N. Rao and comprising Justice Abdul Nazeer and Justice M.R. Shah
HDFC AMC and Aditya Birla MF, are among the top five funds in the country by assets, have put in big bets on Vodafone Idea's survival