AGR: Vodafone Idea submits self-assessment of Rs 21,000 crore

Amid a sharp sell-off in the market on Friday, the trouble-ridden telecom company-Vodafone Idea, submitted its self-assessment of AGR liabilities to the stock exchanges.

Adjusted Gross Revenue (AGR) is percentage share that telecom companies have to pay to the government annual License Fee (LF) and spectrum usage charges amidst disputes between Department of Telecommunications (DoT) and telecom companies.

Vodafone Idea has on March 6, 2020 filed its self-assessment of the AGR liabilities with DoT. The self-assessment discloses that the AGR liabilities of the company aggregates to Rs 21,533 crore including a principal amount of Rs 6,854 crore for the period from FY 2006-07 to FY 2018-19 and interest up to February 2020.

The company has already paid a sum of Rs 2,500 crore on February 17, 2020 and a further sum of Rs 1,000 crore on February 20, 2020 towards this liability.

The stock closed at Rs 3.31, down by 7.8 per cent on BSE. The benchmark index BSE Sensex ended the session with losses of 900 points to close at 37,576.