'Conversion of Airtel statutory liabilities into equity needs scrutiny'

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'Conversion of Airtel statutory liabilities into equity needs scrutiny' - Business Standard

Quick Summary:

Bharti Airtel has sought conversion of its AGR dues of around Rs 41,000 crore, including interest liability, into equity in line with the relief given to debt-ridden Vodafone Idea by the government.

Bharti Airtel's about Rs 41,000-crore of adjusted gross revenue (AGR) dues will not be converted into equity automatically as the telco's application for such conversion will go through a scrutiny at the Department of Telecom (DoT), an official source said on Friday.

The government has given relief to Vodafone Idea by converting its dues worth Rs 53,000 crore into equity ownership in the company.