Info-tech

Reliance Jio pays ₹10,792-cr spectrum dues to DoT

Ayushi Kar Mumbai | Updated on October 29, 2021

Decides not take 4-year moratorium offered by the government

Reliance Jio has paid ₹10,792 crore to the Department of Telecom to clear their dues for the spectrum bought in 2016, thus deciding not to take the four-year moratorium offered by the government. Other operators Vodafone Idea and Bharti Airtel have both taken a moratorium on spectrum payments.

Jio, however, still has dues pending for spectrum bought in 2013 and for 2010. The operator has time till Friday to inform the government on whether it will take recourse to the moratorium on these payments.

Also read: SC bars Bharti Airtel from rectifying return for ₹923-cr GST refund

DoT has set October 29 as the deadline for telecom operators to inform them whether they will be accepting the government’s proposal for a four-year moratorium on payments for spectrum and adjusted gross revenue.

Bharti Airtel on Monday said it will opt for four-year payments moratorium — on AGR and spectrum dues — being offered by the government as part of a relief package for the telecom sector.

Vodafone Idea earlier this month, opted for the spectrum moratorium expected to give the telco cash flow relief of ₹60,000 crore. Vodafone Idea CEO Ravinder Thakker had previously said that the government’s bailout measures have been a major lease of life for the ailing telco. Where the company can now redirect its revenues to invest back into its business.

DoT has also offered to convert the dues into equity. Telecom operators have to confirm whether they will utilise this option within 90 days.

Published on October 28, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like