India grants Vodafone Idea a five-year moratorium on telecom dues

India has granted Vodafone Idea a five-year moratorium on adjusted gross revenue (AGR) dues, a government source told Reuters. The move follows a Supreme Court statement that the government can consider the company's relief request for AGR dues.

India has granted a five-year moratorium on adjusted gross revenue (AGR) dues owed by Vodafone Idea, a government source told Reuters. The measure is framed as relief for the telecom company amid longstanding disputes over AGR calculations. The decision comes after the Supreme Court said the government can consider Vodafone Idea's request for relief on its AGR liabilities. Vodafone Idea did not immediately respond to a Reuters request for comment. Key details: - The government source told Reuters that the moratorium will last five years and applies to AGR dues owed by Vodafone Idea. - The development was reported by Reuters and framed as government action following court guidance. - The Supreme Court had earlier said the government could consider the company's request for relief on all of its AGR dues. - Vodafone Idea did not immediately respond to Reuters' request for comment. Summary: The moratorium pauses Vodafone Idea's AGR payment obligations for five years and changes the immediate fiscal timeline for those dues. Details on implementation and any further government or legal steps were not provided and are undetermined at this time.