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New Delhi, Feb 28 () The crucial meeting of Digital Communications Commission (DCC) on Friday could not arrive at a decision on relief to the distressed telecom sector as government officials said more details are required for reconciliation of data on statutory dues. In a day of hectic parleys at DoT, Vodafone Idea (VIL) CEO and MD Ravinder Takkar also met Telecom Secretary Anshu Prakash but refused to comment on the details of his discussion.Telecom companies have been desparately waiting for a bailout package from the government after a Supreme Court order put their statutory liabilities at Rs 1.47 lakh crore, and all eyes were on the DCC meet for the much-needed breather to fix the AGR imbroglio.In fact, just days ahead of the Friday meeting of DCC, Vodafone Idea - which is the most vulnerable of the lot - told the government that it would not be able to pay the Supreme Court mandated Rs 53,000 crore dues unless state support is extended to survive the crisis. VIL had made a strong plea for setting off Rs 8,000 crore of GST credits, a three-year moratorium on payment of the remaining amount which should be staggered over 15 years at a simple interest rate of 6 per cent, drastic cut in licence fee and fixing of a minimum price of calls and data.While telecom department officials insisted that DCC meeting on Friday did not focus on AGR issues but rather on project implementation for PPP on Bharat Net project, a source present at the meeting said no decision on telecom relief was taken at the meeting although discussion did take place.DCC, the highest decision-making body of the government on telecom, discussed the issue and looked at options at the meeting which lasted two hours. Further discussions are needed, and the DCC is likely to meet again in the coming days but no date has been fixed for the next meeting, they said.The telecom department is awaiting more details required for reconciliation of AGR data, sources added. "A lot of discussion would be needed, AGR related data needs to be assessed," the source said.The DCC includes CEO of NITI Aayog, and secretaries of Ministries of Electronics and IT, DoT, Department of Economic Affairs, and Department for Promotion of Industry and Internal Trade, besides other senior officials of the telecom department.VIL, which had last week paid Rs 3,500 crore to the government - still only seven per cent of its total dues - in a recent letter to the Department of Telecommunications (DoT) said it is "not in a sound financial state" to settle the liability and sought "urgent support from the government".The Cellular Operators' Association of India (COAI), in a separate, almost similar letter, also urged the government for easier terms for payment of dues by telcos including loans at lower rates to settle liability, as also an urgent implementation of floor prices for call and data.The embattled industry is aggressively pitching for cut in licence fee to three per cent from the current eight per cent, and has also sought reduction in spectrum usage charges (SUC) to bail out of what it describes as an unprecedented crisis.Blaming the below-cost pricing of telecom services, compelled by competitive pressures as being the root cause of financial stress, VIL has sought immediate implementation of floor price in tariffs.It said a floor price needs to be immediately made effective, say from April 1, 2020 to ensure that the sector is fully sustainable and in a position to pay deferred spectrum and AGR dues and still invest to create world-class network and services.The company argued that the introduction of floor price will enable revenue of the telecom sector to nearly double from the current level of Rs 1.75 lakh crore.VIL Chairman Kumar Mangalam Birla has, in the past, made it amply clear that the company will fold if it is forced to make payment of over Rs 53,000 crore dues.Birla has held multiple rounds of discussions with the finance minister and the telecom minister over the last few days to explore options to keep the company afloat.In all, as many as 15 entities owe the government Rs 1.47 lakh crore -- Rs 92,642 crore in unpaid licence fee and another Rs 55,054 crore in outstanding spectrum usage charges.These dues arose after Supreme Court, in October last year, upheld the government's position on including revenue from non-core businesses in calculating the annual Adjusted Gross Revenue (AGR) of telecom companies, a share of which is paid as licence and spectrum fee to the exchequer.The Supreme Court earlier this month rejected a plea by mobile carriers such as Bharti Airtel and VIL for extension in the payment schedule and asked them to deposit an estimated Rs 1.47 lakh crore in past dues for spectrum and licences.Airtel has so far paid Rs 10,000 crore against DoT estimated dues of over Rs 35,000 crore, while Tata Teleservices has paid Rs 2,197 crore as full and final settlement for all its dues.Meanwhile, the government is also asking telecom companies including Vodafone Idea, Bharti Airtel and Tata Teleservices to submit supporting documents on AGR self-assessment, that formed the basis of their statutory dues calculation. The exercise will help the DoT examine the AGR calculations being made by the telecom players.Once substantiating documents are filed by the companies, the telecom department will initiate random test checks on the AGR calculation in a time-bound manner. The 'test check' will be done for any one year (of telcos' dues) to examine the deviation between telecom companies' assessment and the government calculation of AGR liabilities.As it is, DoT officials have made it clear that any relief extended to companies like VIL would be contingent upon them making additional payments. In the case of Tata Teleservices, officials maintain that the department is not satisfied with the Tatas' calculation of its overall liabilities (Rs 2,197 crore against the government's preliminary assessment of about Rs 14,000 crore) and will be sending a notice to the company. MBI SR ANUANU

AGR woes: No decision on relief to telcos at DCC meet; DoT officials say more AGR-data needed

New Delhi, Mar 6 () With the Supreme Court mandated dues pushing Vodafone Idea to the brink, Vodafone Group CEO Nick Read on Friday met Communications Minister Ravi Shankar Prasad to discuss relief options to keep the company afloat.The meeting assumes significance as Vodafone Idea Ltd (VIL), where the British telecom giant holds just over 45 per cent stake, is staring at Rs 53,000 crore in unpaid statutory dues, having paid only Rs 3,500 crore in two tranches so far. VIL has said its self assessment pegs AGR liabilities at Rs 21,533 crore, which is just 41 per cent of what the government has estimated.After the over half an hour meeting with Prasad, Read refused to comment on whether the British telecom giant will exit India, saying "no comments".Read also met Finance Minister Nirmala Sitharaman earlier in the day.Telecom companies are desperately waiting for a bailout package from the government after a Supreme Court order put their statutory liabilities at Rs 1.47 lakh crore, and all eyes have been on DoT for the much-needed breather to fix the AGR imbroglio.VIL recently told the government that it would not be able to pay the full dues unless state support is extended to survive the crisis.It had made a strong plea for setting off Rs 8,000 crore of GST credits, a three-year moratorium on payment of the remaining amount which should be staggered over 15 years at a simple interest rate of 6 per cent, drastic cut in licence fee and fixing of a minimum price of calls and data. The intensity of crisis being faced by VIL can be gauged from the fact that Vodafone Idea Chairman Kumar Mangalam Birla has held multiple rounds discussions at the telecom ministry and finance ministry over last few weeks to look for a solution to keep the telecom operations on track.In December, Birla had said VIL may have to shut if there is no relief on the statutory dues. "If we are not getting anything, then I think it is the end of the story for Vodafone Idea," Birla had said. "It does not make sense to put good money after bad... We will shut shop."Even Vodafone CEO, Read recently made it clear that the situation in India is critical, following the AGR ruling of the Supreme Court. After a Supreme Court rap on February 14 for missing the payment deadline, top telecom firms Bharti Airtel, Vodafone Idea and Tata Teleservices over the last few weeks have scrambled to pay a part of their outstanding dues.Last month, the Supreme Court rejected a plea by companies such as Bharti Airtel and Vodafone Idea for extension in the payment schedule and asked all of them to deposit an estimated Rs 1.47 lakh crore in past dues for spectrum and licences. It threatened to initiate contempt proceedings against top executives of these firms for non-payment.Some telecom firms are already struggling with mounting losses and debt and the additional liability has raised concerns of them defaulting on existing loans. Of the estimated dues that include interest and penalty for late payments, Airtel and Vodafone Idea owe about 60 per cent. In all, as many as 15 entities owe the government Rs 1.47 lakh crore -- Rs 92,642 crore in unpaid licence fee and another Rs 55,054 crore in outstanding spectrum usage charges.These dues arose after Supreme Court, in October last year, had upheld the government's position on including revenue from non-core businesses in calculating the annual Adjusted Gross Revenue (AGR) of telecom companies, a share of which is paid as licence and spectrum fee to the exchequer. MBI ANS ANUANU

Vodafone Group CEO meets Telecom Minister as AGR crisis looms

Vodafone Idea Ltd, the India's third largest mobile service provider, will shutdown if the government does not provide relief on the liability it faces in past statutory dues following a Supreme Court order, its billionaire chairman <keyword id="6354955" type="PERSON" weightage="20" keywordseo="Kumar-Mangalam-Birla">Kumar Mangalam Birla</keyword> said on Friday. 
"If we we are not getting anything then I think it is end of story for Vodafone Idea," Birla said at the HT Leadership Summit when asked about the future of Vodafone Idea in absence of a government relief on payment of Rs 53,038 crore dues.
 Birla's <keyword id="6354924" type="COMPANY" weightage="20" keywordseo="idea-cellular">Idea Cellular</keyword> and British telecom giant Vodafone plc's India unit had merged last year to compete with the onslaught of free voice calling and dirt cheap data unleashed by richest Indian Mukesh Ambani's Reliance Jio. In the process, it accumulated Rs 1.17 lakh crore debt and had just weeks back posted corporate India's biggest loss after it provisioned for the liability arising from the Supreme Court upholding the government's position on what base should statutory liabilities be calculated.
 "It does not make sense to put good money after bad. That would be end of story for us. We will shut shop," he said in a response when asked if Vodafone Idea will put in more money.
 Market leader <keyword id="6354287" type="COMPANY" weightage="20" keywordseo="bharti-airtel">Bharti Airtel</keyword>, Vodafone Idea and other telecom players have to pay as much as Rs 1.47 lakh crore in payment of telecom license fee and spectrum usage charge together with interest and penalty for past 14 years. Both Airtel and Vodafone Idea have petitioned the government for relief in waiver of interest and penalty, which will halve the dues, and also filed a review petition in the Supreme Court.
 Birla was however hopeful of a relief from the government not just for the telecom sector but the industry as a whole to pull out the economy from a six-year low GDP growth of 4.5 per cent.
 "They (the government) have realised the fact that this (telecom) is a very critical sector. The whole digital india programme rests on this. This is a strategic sector," he said.
 The government, he said, has publicly stated that it wants three players from the private sector and one player from the public sector.
 "I think that we can expect much more stimulus from the government because it is required for the sector to survive. If we weren't getting anything then I think it is end of story for Vodafone Idea," he said.
 The government had late last month deferred by two years the payment due to telecom companies for spectrum they bought in past auctions. This relief totalled Rs 44,000 crore for the industry but companies are expected to pay this due together with interest after the two year moratorium.
 Asked about the specific relief sought, Birla said, "The big elephant in the room is AGR. Which is actually I think something which lies in the court of judiciary. I believe government can have a dialogue. This was a suit filed by the government against telecom service providers."
 AGR refers to adjusted gross revenues, a percentage of which the telecom companies pay as statutory dues. The Supreme Court had upheld the government position that non-telecom revenues have to be included in the AGR for calculating dues.
 "Since the government has won, it gives them headroom to talk to judiciary and try to find some of solution. I don't know which form or shape it takes," he added. PRS ANZ MKJ

No point of good money following bad money, says Kumar Mangalam Birla as he seeks relief for Vodafone

New Delhi, Nov 29 () The Supreme Court ruling on adjusted gross revenue will not just lead to the collapse of the telecom sector but will also have a cascading effect on several other sectors including power, steel and railways, according to industry chamber FICCI. 
The Federation of Indian Chambers of Commerce and Industry (FICCI) in a letter to Finance Minister Nirmala Sitharaman seeking her urgent intervention to resolve woes in the telecom sector said the debt-ridden industry has no appetite left to invest in networks and future technologies while businesses across the world are exploring new opportunities around emerging technologies like 5G, artificial intelligence and internet of things. 
"Given the multiplier impact the (telecom) sector has on the economy and various intermediary industries, it is of critical importance that the sector remains healthy, dynamic and vibrant," FICCI said.
The Supreme Court On October 24, 2019 upheld the government's way of calculating telecom revenue, on which licence fee and spectrum usage charges are computed.
As per the initial calculations, access players like Airtel, Vodafone Idea and other operational telecom operators may have to pay the government a whopping Rs 1.33 lakh crore within three months.
Telecom Minister Ravi Shankar Prasad in Parliament last week said that there is no proposal before the government at present on waiver of penalties and interest on outstanding licence fee payments based on adjusted gross revenue (AGR), or on extending the timelines for telcos to pay up their statutory dues.
"This ruling will have a cascading effect and will severely impact many other companies in multiple sectors such as internet service providers, satellite communications providers, cable operators and even companies in power, steel and railways sector," FICCI said. 
According to internal estimate of the Department of Telecom, telecom companies which are operational at present will have to cough up around Rs 1.33 lakh crore by January 2020 as per the apex court order.
This is beyond the total debt on the telecom sector estimated to be around Rs 7.87 lakh crore as on August 2017.
"...As you are aware, currently the sector is saddled with a massive debt and has almost no appetite to invest in networks and future technologies. Adding further woes to the sector, the recent ruling on the AGR, dues of the telecom service providers will lead to an unfortunate and disastrous collapse of the already battered sector," the letter said.
Both Bharti Airtel and Vodafone Idea have expressed uncertainty on continuing their operations following the apex court judgement and in the absence of relief from the government. 
Vodafone Idea posted an unprecedented loss of 50,922 crore-- highest ever by any corporate in Indian Inc and Bharti Airtel posted it highest loss of Rs 23,045 crore in the second quarter of current fiscal. 
Reliance Communications posted Indian Inc second biggest loss of Rs 30,142 crore following the apex court judgement. 
"At a time when the world is witnessing the advent of new possibilities and business opportunities from emerging technologies such as 5G, AI, IoT, etc which will redefine the way businesses and economies will work in the coming decades, it is important that India retains its leadership position in the telecom space," the letter said. 
The industry body called for change in policy saying that timely intervention and support will not only save the sector from the brink of collapse but ensure a healthy growth adding to the economic momentum of the country. 
 The government recently doled out a Rs 42,000 crore relief to debt-laden telecom companies after it agreed not to take any payments for spectrum they use for the next two years.
The Union Cabinet approved giving Bharti Airtel, Vodafone Idea Ltd and Reliance Jio an option to avail of a two-year moratorium on payments they were supposed to make in yearly installments for the spectrum bought in auctions.
While the move will give Rs 42,000 crore relief to Bharti Airtel, Vodafone Idea and Reliance Jio, the government is unlikely to intervene in the Supreme Court-mandated statutory payments, top sources said. PRS MKJ

Supreme Court's AGR ruling will lead to telecom sector's collapse: FICCI to FM

New Delhi, June 12 () Bharti Airtel is better placed to offer guarantees for securing staggered payments, if permitted, in the AGR matter where the Supreme Court has asked private telcos for road map on payment, timelines, and the security they can furnish, said analysts while airing mixed views on sustainability of Vodafone Idea. Higher liability and keenness on debt reduction will ensure pricing discipline in sector, analysts said. The Supreme Court on Thursday asked telecom companies, including Bharti Airtel and Vodafone Idea Ltd, to file affidavit explaining the time needed by them to clear the remaining statutory dues that arose from the court verdict of including non-telecom revenues for calculating dues to the government. "While reiterating that AGR dues have to be paid, the apex court indicated that staggered payment will be allowed only if guarantees for payments are given. We see Bharti Airtel better placed to furnish guarantee," Axis Capital said in a note citing the company's fund raising drive, assets available for monetisation and AGR payments already cleared. Vodafone Idea (VIL) may also manage to furnish guarantee given large assets available with Aditya Birla Group, but its balance sheet would remain stretched, it added. There is strong possibility of Vodafone Idea to stay as a going concern if petition for staggered payment of Adjusted Gross revenue (AGR) dues is accepted and government/company take steps to ensure its viability, Axis Capital said. CLSA said Bharti Airtel's AGR risk is lower as it has already paid about Rs 18,000 crore (including adhoc payment) after fundraising, and it awaits final DoT demands. "We believe with likely AGR relief in staggered payments and lower DoT final demand, Voda Idea will reconsider insolvency plans," it said. Edelweiss said it believed deferred payment over 15–20 years is critical to sustaining a three-private-player market. "We believe telco promoters are unlikely to hand out personal guarantees; instead, accepting terms such as licence cancellation, no dividend/buyback till repayment, etc look more feasible," Edelweiss said in its report. Stating that it remains positive on Bharti Airtel on considerations of strong network and balance sheet, it added overall given the higher liability for telecom companies and their keener focus on debt reduction, pricing discipline is expected to be maintained. Credit Suisse said that long-term viability of Vodafone Idea "continues to remain under a cloud", and maintained preference for Bharti Airtel, which is said is well-positioned to benefit from the improving sector dynamics led by improvement in mobile pricing. While VIL can manage its cash flow needs till FY22 mainly on account of a two year moratorium on deferred spectrum debt, the company could find it "challenging" to service the AGR dues in case the tenure for staggered payment is short, say less than 10 years, the Credit Suisse note said. ICICI Securities also cautioned that lower payment period may increase payment burdens for VIL, amid indication that the company does not have enough cash for running operations. For guarantees, Bharti is comfortably positioned, while VIL is in a tough spot, it said. Motilal Oswal said price increase is inevitable and that Vodafone Idea would need about 50 per cent hike in Average Revenue per User (ARPU) to support cashflow. Citi, in its report, said that uncertainty for Voda Idea remains high. "For the company to be able to repay its AGR dues and meet its enhanced cash flow requirements in FY23E (when the 2-year spectrum moratorium ends), this would require a combination of additional tariff hikes, equity infusion, tower monetisation, and rationalisation of levies, the quantum of which would vary with the time period agreed upon for repayment of the dues," Citi said. MBI MKJ

AGR issue: Analysts say Bharti Airtel at lower risk, mixed views on Voda Idea sustainability

New Delhi, Mar 11 () The government has received part payment of about Rs 25,900 crore from telecom operators towards statutory dues and has again directed telcos to make full payments, Parliament was informed on Wednesday."The Telecom Service Providers (TSPs) have made some payments in compliance with the Supreme Court order dated October 24, 2019," Minister of State for Communications Sanjay Dhotre said in a written reply to the Lok Sabha.The minister said the government has "again" directed the operators to make full payments in a letter dated March 4, 2020."The government has directed all TSPs to make the payments in accordance with the order of the Hon'ble Supreme Court dated 24.10.2019 vide letters dated 13.11.2019, 20.01.2020 and 14.02.2020," he said.Dhotre informed the House that so far, Bharti Airtel has paid Rs 18,004 crore and Vodafone Idea has shelled out Rs 3,500 crore.Tata Teleservices has paid about Rs 4,197 crore, while Rs 3.9 crore has been received from Reliance Communications. Reliance Jio has paid about Rs 195 crore. To another question on whether the government has any plans to set up new anti-trust laws to prevent monopolisation and/or cartelization in the telecom sector, Dhotre said, "No such proposal is under consideration."To a separate question on financial distress in the telecom sector, he said Cellular Operators Association of India (COAI) has sought government intervention to avert an unprecedented impact on the financial health of its member companies. "The government has offered a moratorium to the TSPs to defer payment of the spectrum auction instalments dues for 2020-21 and 2021-22, either for one or both years," he said. MBI MBI ANUANU

Govt gets Rs 25,900 cr in AGR dues; asks telcos to make full payment

New Delhi, Nov 20 () Industry body COAI, whose members include Bharti Airtel, Vodafone Idea and Reliance Jio, on Wednesday said various steps including a two-year moratorium for spectrum dues to telcos will provide a relief to the debt-laden sector.
 Cellular Operators Association of India (COAI) DG Rajan Mathews said that proposed tariff hikes in mobile call and data rates will partially help in reducing the stress.
 "The combination of three things -- 2-year moratorium for spectrum payments, proposal to increase in tariff and modifying adjusted gross revenue will help resurrect the telecom sector," Mathews said.
 The cabinet has approved a two-year moratorium for spectrum payment. However, the deferred payment will be adjusted in balance annual instalments to be paid by the service providers for spectrum they purchased through auctions.
 Telecom players including Airtel and Vodafone Idea had sought some relief from the telecom sector.
 This includes request to not press for the AGR liability payment and grant waivers, not levying spectrum usage charges (SUC) on non-licenced revenue, reduction of licence fee and SUC rates and use of GST credit for payment of government levies.
 Last week, India's two leading telecom operators Vodafone Idea and Bharti Airtel reported a combined loss of Rs 74,000 crore for the second quarter ended September 2019, mainly on account of statutory dues arising from the recent Supreme Court order on AGR.
 The apex court has upheld the government's position on including revenue from non-telecommunication businesses in calculating the annual AGR of telecom companies, a share of which has to be paid as licence and spectrum fee to the exchequer. The ruling over statutory liabilities has triggered a rush for provisioning by telecom companies.
 While Vodafone Idea posted a loss of Rs 50,921 crore -- the highest-ever quarterly loss by any corporate in India -- Airtel reported a loss of Rs 23,045 crore.
 On Friday, Reliance Communication posted a consolidated loss of Rs 30,142 crore for July-September 2019 due to provisioning for liabilities after the Supreme Court ruling on statutory dues -- marking the second-highest loss posted by any Indian corporate to date.
 Mathews said that as per legal opinion given by legal stalwarts that DoT is well within its right to modify definition of AGR prospectively.
 "The AGR judgement of the Supreme Court has added debt burden on another Rs 2 lakh crore on the telecom sector. If the government removes AGR prospectively, as we pay for entire spectrum in auction, or modifies it as per TDSAT judgement, it will resolve telecom sector issues," Mathews said.
 The telecom tribunal TDSAT had ruled that government can levy licence fees, spectrum usage charges etc only on revenues earned through the sale of pure telecom services.
 He said the telcos pay up to 30 per cent of their revenues to the government, by way of various levies and taxes, which is an enormous burden on the industry. "30 per cent of what is collected is passed on to the Government. We have been requesting the Government that these levies and Taxes be rationalised and the same is also one of the important goals of NDCP. However, these aspects of the NDCP are yet to be operationalised and we are engaging with the government on the same," Mathews said.
 Mathews said that the 2-year moratorium will not reduce debt on the telecom sector as government will charge interest on the deferred payments.
 "It will help industry if government aligns interest with prime lending rate or floating method instead of fixed rate of 9.5 per cent. The interest rates have been coming down," Mathews said.
 He said that the debt on telecom service providers at present is close to Rs 6 lakh crore and telecom operators will need to increase their average revenue per user by at least 20 per cent for partial relief.
 All three telecom operators - Reliance Jio, Bharti Airtel and Vodafone Idea have announced they will increase mobile service rates. PRS
MKJ

Two-year moratorium for spectrum payment a relief for telecom sector: COAI

New Delhi, Nov 18 () The government should grant telecom companies a three-year moratorium followed by an extended timeline for payment of all statutory dues at easier interest rates, as the telecom sector is reeling under massive losses after the Supreme Court ruling on AGR liabilities, COAI said on Monday.
 Cellular Operators Association of India (COAI) Director General Rajan Mathews told that operators need "oxygen" and urged the government to take a call on debt restructuring of all the dues that telecom operators owe to the government.
 Mathews said most 4G licences have 11-year validity left, and that the government could pack in another 10 years, thus allowing operators to pay back all the outstanding dues spread over the entire licence period.
 "It is also time to redefine AGR (adjusted gross revenue) prospectively," Mathews said.
 The telecom industry has been haemorrhaging, with combined losses of listed mobile network firms surpassing Rs 1 lakh crore in the September-ended quarter.
 Last week, India's two leading telecom operators Vodafone Idea and Bharti Airtel reported a combined loss of Rs 74,000 crore for the second quarter ended September 2019, mainly on account of statutory dues arising from the recent Supreme Court order on AGR.
 The apex court upheld the government's position of including revenue from non-telecommunication businesses in calculating the annual AGR of telecom companies, a share of which has to be paid as licence and spectrum fee to the exchequer. The ruling over statutory liabilities has triggered a rush for provisioning by telecom companies.
 While Vodafone Idea posted a loss of Rs 50,921 crore, the highest-ever quarterly loss by any company in India, Airtel reported a loss of Rs 23,045 crore.
 On Friday, Reliance Communication posted a consolidated loss of Rs 30,142 crore for the July-September 2019 period due to provisioning for liabilities after the Supreme Court ruling on statutory dues -- marking second-highest loss posted by any Indian company till date.
 Airtel, Vodafone Idea and other telecom operators have to pay the government a whopping Rs 1.4 lakh crore following the Supreme Court order that has sent shock waves through an industry already grappling with past losses and billions of dollars in debt.
 According to latest estimates by the telecom department, Bharti Airtel faces a liability of around Rs 62,187 crore (including share of Tata Group of companies and Telenor India), while Vodafone Idea may have to pay about Rs 54,184 crore. The remaining liability is with state-owned BSNL and MTNL and some of the shut or bankrupt telecom companies.
 Stung by colossal losses, Vodafone Idea has said its ability to continue as a going concern is dependent on obtaining relief from the government and positive outcome of the proposed legal remedy. The company is also in the process of filing a review petition against the Supreme Court order.
 The Department of Telecommunications (DoT) had shot off notices to telecom operators to pay their revenue share dues within three months as directed by the Supreme Court. The DoT has given option to telecom operators to clear all the dues on self-assessment basis.
 Last month, the government also constituted a committee of secretaries to explore a financial bailout package for the telecom sector. MBI HRS

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