Vodafone Idea Owes Rs 57,000 Crore to DoT Lenders addressed the DoT and noted that bank guarantees support approximately Rs 57,000 crore dues. If the guarantees are invoked, banks will pay the amount to the government on behalf of the company. However, Vodafone Idea marked that they will close down if the DoT invokes bank guarantees and no relief measures are provided on AGR dues. As per the reports of ET, Vodafone Idea has only paid Rs 3,500 crore to DoT, and its self-assessment of AGR dues stands at Rs 23,000 crore out of which principal amount stands at Rs 7,000 crore. Experts have warned that telco will face trouble paying their self-assessed dues in a short period. Vodafone Idea’s Debt Estimated Around Rs 1.26 Lakh Crore State Bank of India (SBI) has the highest exposure to Vodafone Idea as the amount stands at Rs 11,200 crore. Similarly, private and public sector banks like IndusInd Bank, ICICI Bank and Punjab National Bank are some of the major lenders of the debt-laden telco. On Tuesday, SBI chairman Rajnish Kumar noted that “Nobody wants to kill the sector”. He also stated that bankers would have to pay the default amount if the telco company defaults the payment. As per the estimates of Brokerage house Macquarie, Vodafone Idea has a debt of Rs 1.26 lakh crore from which a significant chunk of Rs 90,700 crore is in the form of spectrum charges guarantees and payment liabilities over 16 years.
