In a key boardroom reshuffle, Vodafone Idea Ltd has appointed Kumar Mangalam Birla as its Non-Executive Chairman, signalling renewed promoter-level oversight at a critical juncture for the debt-laden telecom operator.
The move comes alongside leadership changes involving Ravinder Takkar, who has resigned as Non-Executive Chairman and will transition into the role of Non-Executive Vice-Chairman.
This follows a significant development on the regulatory front. The company recently informed exchanges that the Department of Telecommunications (DoT) has finalised Vodafone Idea's adjusted gross revenue (AGR) dues at Rs 64,046 crore as of December 31, bringing long-awaited clarity to a major liability overhang.
This marks a crucial step in resolving one of the biggest uncertainties for the telecom operator, which has been grappling with heavy statutory dues since the Supreme Court of India ruling on AGR in 2020.
Under the approved framework, Vodafone Idea will begin repayments with a minimum annual payment of Rs 100 crore between fiscal year 2032 and fiscal 2035, followed by a sharper repayment phase.
ALSO READ: DoT Fixes Vodafone Idea's AGR Dues At Rs 64,046 Crore; Payout Plan Finalised
From fiscal 2036 to fiscal 2041, the company will clear the remaining dues through six equal annual instalments of Rs 10,608 crore each.
Separately, AGR dues amounting to Rs 124 crore for fiscal year 2018 and fiscal year 2019, which were not part of the reassessment, will be paid between March 2026 and March 2031.
The clarity on dues follows the government's relief measures in December, when it froze AGR liabilities worth Rs 87,685 crore for the period fiscal year 2007 to fiscal 2019, in line with court directions. These frozen dues remain subject to reassessment.
Importantly, the freeze excludes dues for fiscal 2018 and fiscal 2019, which had already been finalised by the Supreme Court and therefore remain payable.
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