Airtel exercises option to defer payment of AGR dues up to FY 2018-19

Source: Airtel

Bharti Airtel earlier this week informed the Department of Telecommunications (DoT) that the company will avail of the option to defer the payment of the AGR dues up to FY 2018-19. The deferment of AGR dues offered by DoT is not tabulated in the Hon’ble Supreme Court’s order.

The Department of Telecommunications (DoT) had written to Bharti Airtel on June 15, 2022, offering options of a moratorium of 4 years applicable from FY 2021-22 to FY 2024-25 for AGR dues up to FY 2018-19 which are not tabulated in the Hon’ble Supreme Court order and conversion of the interest dues that accrue under aforesaid option into equity.

Bharti Airtel has chosen to avail of the option to defer the payment of the AGR dues up to FY 2018-19 up to four years (applicable from FY 2021-22 to FY 2024-25) while retaining the right to prepay the instalment amounts. The company won’t be availing of the option of conversion of the interest dues that accrue under the aforesaid option into equity.