Reportedly as fears mount over vodafone Idea’s survival in india, the company’s senior management has told lenders that if it doesn’t get urgent relief from the government, repaying the lenders in a timely manner may not be possible. Meanwhile vodafone idea posted a huge net loss of Rs 50,921 crore for the last quarter, the biggest quarterly loss in India’s corporate history. Meanwhile this comes after the supreme court judgment on the Adjusted Gross Revenue (AGR) matter, in which a number of telecom companies were implicated.
Furthermore the company noted that the sc order has resulted in liabilities amounting to Rs 44,150 crore for license fees and spectrum charges. Perhaps the company said in a statement when it published its financial results “It is to be noted that our ability to continue as a going concern is dependent on obtaining the reliefs from the government”.