Bankrupt

The comfort sought by using the lenders for Vi consists of measures like deferment of repayments for spectrum dues. The banks concern that in case of no alleviation from the government, Vi ought to quit up bankrupt. This comes as the business enterprise has additionally written to the Department of Telecommunications (DoT) and pointed out that its fundraising talks have hit a wall. The consortium of lenders have sought some alleviation for the cash-strapped telecom participant in the mild of rising issues over its survival amid the dwindling money balances.

It has introduced that the organisation wishes a 12 months greater to make spectrum repayments of Rs 8,292 crore as it’s now not producing sufficient money from operations and adjusted gross income (AGR) repayments are siphoning away liquidity. In its letter, Vi has advised the DoT that the traders are cautious of placing cash into a quarter hampered via “below-the cost” client tariffs.

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