Jio Pays Rs 1,053 Crore Spectrum Auction Dues, Govt Gets Rs 6,095 Crore
Reliance Jio on Tuesday paid Rs 1,053 crore towards past spectrum auction dues while Vodafone Idea paid the government Rs 3,042 crore for airwaves bought in earlier auctions and Airtel paid Rs 2,000 crore for spectrum bought in 2014.
Sources said the companies made the payments on Tuesday, which was the deadline date. In all, the government has received Rs 6,095 crore from past spectrum auction dues.
Any default on spectrum dues payment from auctions entitles the Department of Telecommunications (DoT) to encash the bank guarantees.
After this, the telcos will make the next spectrum payment only in 2023-24 as this is the last of the pending payments for them. Last year, the Cabinet approved a two-year moratorium on such spectrum dues.
Separately, Vodafone Idea has adjusted gross revenue (AGR) dues of Rs 53,000 crore of which it has paid Rs 3,500 crore. The company is hopeful of some direct relief for helping it pay the amount to DoT.
Airtel faces an AGR payment of Rs 35,500 crore and it has paid Rs 18,000 crore to DoT as its “full and final” payment after self-assessment.