Vodafone Idea Will Close If Government Doesn’t Provide Any Relief: Kumar Mangalam Birla

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Vodafone Idea will close its operations in India if the government does not provide any relief, news agency Press Trust of India quoted its chairman Kumar Mangalam Birla as saying. The statement from Mr Birla comes in the backdrop of record losses reported by Vodafone Idea for the quarter ended September 30 due to huge provisions towards dues owed to the telecom department for adjusted gross revenue (AGR).
A Supreme Court ruling on the adjusted gross revenue (AGR) in October came as a huge setback for telecom companies, as it allowed the telecom department to recover dues worth Rs 1.33 lakh crore from them.

Source By NDTV

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