After the apex court ordered the telecom companies to pay the long-standing dues, the entire nation was shocked.Except for Reliance Jio Infocomm Limited (or simply Jio) owned by billionaire Mukesh Ambani, it was hard for the industry to digest the news.
Bharati Airtel even went up to the extent of clearing Rs 10,000 Crores with immediate effect, stated that it would clear its dues before the apex court’s next hearing.
Meanwhile, the debt-trodden Vodafone Idea Company is still seeking ways and means to cross this hurdle.
The battle between the cellular companies and TRAI has been going in the Supreme Court over the non-payment of spectrum fees, and other fees associated.In a statement, a Vodafone Idea representative stated that the company cannot clear its due with immediate effect, and its existence in India largely depends on how far the government is flexible in this issue.
‘If Vodafone Idea is forced to pay the dues with immediate effect, the company might well cease its operations in the nation.It is above a herculean task for the company.
If Vodafone Idea exit, it will be the biggest jolt to start with this decade.Moreover, this year has recorded the slowest growth in the past decade’, an economic analyst opined.
