Bharti Airtel will opt for the four-year moratorium on adjusted gross revenue (AGR) and spectrum payments, making it the second telco after Vodafone Idea to accept the offer, which was part of the recently announced telecom relief package, sources said.
The telco communicated the decision to the Department of Telecom on Friday, the sources added.
The Union Cabinet had in September approved several measures to extend lifeline to the cash-strapped telecom sector, including a four-year moratorium on payment of dues to the government arising out of the AGR judgment as well as payments of spectrum purchased in past auctions.
Vodafone Idea, earlier this month, had said its board had approved the exercise of the option of deferment of the company’s spectrum auction instalments for a period of four years. The other options offered in the said notification by DoT will be considered by the board of directors of the company within the stipulated time-frame, the telco had added.
The government had asked the telecom companies to convey their decision on opting for the four-year dues moratorium by October 29, while also giving 90 days’ time to indicate if they wanted to opt for converting the interest amount pertaining to the moratorium period into equity.
