Bharti Airtel to opt for 4-year moratorium on AGR, spectrum dues

Bharti Airtel, in a response to the telecom department's letter, has confirmed that it will be opting for the four-year moratorium on Adjusted Gross Revenue (AGR) and spectrum dues. On the issue of conversion of interest on moratorium dues to equity, the company had not taken a call on it, and would revert to the department at a later date.

The Department of Telecommunications (DoT) had written a letter last week asking telecom companies whether or not they would be opting for the four-year moratorium on AGR and spectrum dues.

CNBC-TV18 has learnt that Bharti Airtel has replied to the DoT confirming they would be opting for the four-year moratorium. It added, that the move is a much-needed help to Bharti Airtel; that the company requires the time, and that it would be opting for the moratorium for both AGR and as well as spectrum dues.

The other half of the DoT letter sought to know if Bharti Airtel would be opting for the equity conversion formula. The DoT had proposed that interest on the moratorium dues could be converted to equity.

Bharti Airtel is yet to take a call on that matter. It would be communicating back to the DoT on the issue at a later date.