A way out for India’s jammed telecom sector
In May, the Supreme Court of India rejected yet another petition by the telecom operators seeking a waiver of interest and penalty of about Rs 1.5 lakh-crore adjusted gross revenue (AGR) dues.
On July 2, telecom minister Jyotiraditya Scindia rebuffed the most troubled operator Vi, making its survival quite uncertain: “There cannot be further equity conversion by the government to more than 49%.”
The government also rejected Airtel’s application to convert its AGR dues into equity, making the AGR issue drag on.
