New Delhi: Communications minister Jyotiraditya Scindia on Monday mentioned govt is analyzing “repercussions” of SC’s resolution to dismiss the healing petitions relating to the Oct 2019 telecom AGR judgement, however added that the highest court docket’s order “needs to be executed”. The feedback come on a day when Vodafone Thought CEO Akshaya Moondra instructed traders that the corporate has “initiated recent dialogue with govt on doubtless treatments” after the SC resolution.
Scindia, briefing the media on developments in first 100 days of third time period of the Modi govt, mentioned the division of telecom is seized of the matter. “Regardless of the SC has ordained, the method needs to be executed. We’re analyzing… (and) see what repercussions.”
Nonetheless, he added that the telecom sector is in good well being and can witness development. “Our telecom sector is a particularly sturdy sector the place we’ve got 4 gamers (Jio, Airtel, Vodafone Thought, and BSNL/MTNL). I have a look at a really sturdy telecom sector shifting ahead.”
Earlier in the course of the day, Vodafone Thought briefed traders about impression of the SC resolution and in addition about its future funding plans. Moondra mentioned the result of the SC resolution on healing petition shouldn’t be on anticipated traces. “The result of the curated petition is disappointing, (however) it doesn’t have any impression on long-term marketing strategy of the corporate and its liabilities.”
He mentioned the corporate expects govt to offer a course on future motion submit the SC resolution.
“For AGR dues case, we consider this would be the closing consequence from the court docket. The motion on AGR dues now falls onto govt. We’re within the technique of placing request with govt for AGR dues.”
Vodafone Thought’s inventory had bought a hammering after the SC order. It has tried to assuage investor issues by saying investments in community growth. The corporate has promised a “sensible turnaround” by lining up Rs 55,000 crore funding, together with Rs 30,000 crore spending on community gear buy from Nokia, Ericsson and Samsung.
Scindia, briefing the media on developments in first 100 days of third time period of the Modi govt, mentioned the division of telecom is seized of the matter. “Regardless of the SC has ordained, the method needs to be executed. We’re analyzing… (and) see what repercussions.”
Nonetheless, he added that the telecom sector is in good well being and can witness development. “Our telecom sector is a particularly sturdy sector the place we’ve got 4 gamers (Jio, Airtel, Vodafone Thought, and BSNL/MTNL). I have a look at a really sturdy telecom sector shifting ahead.”
Earlier in the course of the day, Vodafone Thought briefed traders about impression of the SC resolution and in addition about its future funding plans. Moondra mentioned the result of the SC resolution on healing petition shouldn’t be on anticipated traces. “The result of the curated petition is disappointing, (however) it doesn’t have any impression on long-term marketing strategy of the corporate and its liabilities.”
He mentioned the corporate expects govt to offer a course on future motion submit the SC resolution.
“For AGR dues case, we consider this would be the closing consequence from the court docket. The motion on AGR dues now falls onto govt. We’re within the technique of placing request with govt for AGR dues.”
Vodafone Thought’s inventory had bought a hammering after the SC order. It has tried to assuage investor issues by saying investments in community growth. The corporate has promised a “sensible turnaround” by lining up Rs 55,000 crore funding, together with Rs 30,000 crore spending on community gear buy from Nokia, Ericsson and Samsung.
