The Supreme Court has asked telecom operators to pay pending Rs 1.47 lakh cr aggregate gross revenue dues by the next week.
Airtel is in a position to pay - it has already deposited Rs 10,000 cr.
Vodafone Idea's plea to make a part-payment of Rs 2,500 cr has been turned down by the court.
The company has to now pay entire dues in a week, which is one of the reason to free fall of the bank shares.
Vodafone Idea has a total debt of Rs 1.2 lakh cr, which need to pay to the government.
It has Rs 90,700 cr in deferred spectrum liabilities and Rs 31,000 cr of non-spectrum debt, a combination of NCDs and other loans.
Most of the deferred spectrum debt owed to the government is in the form of bank guarantees.
After the court order, the Department of Telecommunications is mulling to invoke the bank guarantees, which means the banks will have to pay around 75% of the Rs 1.22 lakh cr debt is estimated to be in bank guarantees.
Vodafone Idea had a contingent liability of Rs 17,100 cr as of March 31, 2019.
provision of about Rs 4,300 cr on its balance sheet.
Rs 12,500 cr in cash and equivalents
which if used to repay the dues will leave less for working capital purposes, making the prospects of shutdown real.
Banking system Total loans outstanding to the telecom sector were Rs 1.1 lakh cr or 1.3% of total loans in September-19.Banks with loans to the telecom sector include HDFC Bank (Rs 24,515 cr), Axis Bank (Rs 17,135 cr), Bank of Baroda (Rs 11,471 cr) and Punjab National Bank (Rs 7,318 cr).
Airtel is in a position to pay - it has already deposited Rs 10,000 cr.
Vodafone Idea's plea to make a part-payment of Rs 2,500 cr has been turned down by the court.
The company has to now pay entire dues in a week, which is one of the reason to free fall of the bank shares.
Vodafone Idea has a total debt of Rs 1.2 lakh cr, which need to pay to the government.
It has Rs 90,700 cr in deferred spectrum liabilities and Rs 31,000 cr of non-spectrum debt, a combination of NCDs and other loans.
Most of the deferred spectrum debt owed to the government is in the form of bank guarantees.
After the court order, the Department of Telecommunications is mulling to invoke the bank guarantees, which means the banks will have to pay around 75% of the Rs 1.22 lakh cr debt is estimated to be in bank guarantees.
Vodafone Idea had a contingent liability of Rs 17,100 cr as of March 31, 2019.
provision of about Rs 4,300 cr on its balance sheet.
Rs 12,500 cr in cash and equivalents
which if used to repay the dues will leave less for working capital purposes, making the prospects of shutdown real.
|
Bank
|
Exposure To Voda-Idea(Cr)
|
|
SBI
|
Rs.11200
|
|
IndusInd
|
Rs.3995
|
|
IDFC First Bank
|
Rs.2500
|
|
ICICI Bank
|
Rs.1725
|
|
PNB
|
Rs.1027.7
|
|
Canara
|
Rs.300
|
|
BOI
|
Rs.100
|
Banking system Total loans outstanding to the telecom sector were Rs 1.1 lakh cr or 1.3% of total loans in September-19.Banks with loans to the telecom sector include HDFC Bank (Rs 24,515 cr), Axis Bank (Rs 17,135 cr), Bank of Baroda (Rs 11,471 cr) and Punjab National Bank (Rs 7,318 cr).
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