The Department of Telecommunications (DoT) on Monday wrote to the three personal telecom corporations, Bharti Airtel, Vi, and Reliance Jio Infocomm, asking them to make clear by October 29 if they’d go for the four-year moratorium on the cost of adjusted gross revenues and deferred spectrum funds, senior authorities officers stated.
According to the officers, the letter was despatched final week on Friday, thereby giving the telcos two weeks to reply. “Two private telcos have indicated that they would opt for the moratorium but there has been no official communication from their side,” a DoT official stated. “We had several internal consultations. The telcos need to tell us in writing on whether they would like to opt for the moratorium or not because only then we can decide whether that money has to be factored in for the revised estimates of this and coming fiscal’s revenue receipts,” a authorities official stated.
The letter offers the telcos until January 14, 2022 to say whether or not they would decide to transform their curiosity dues on deferred spectrum funds to fairness. For the valuation, the letter stated, “The necessary order for invoking Section 62(4) of the Companies Act will be issued by the competent department, directing the present value of the interest on deferred AGR-related and spectrum auction dues during the moratorium period shall be treated as a loan to the company and then converted from loan to equity shares”.
Related Posts
Add A Comment