Vodafone Idea defaults on rental, energy payments for June to tower firms

Vodafone Idea, the joint venture between Vodafone Group Plc and Aditya Birla Group, has defaulted on rental and energy payments for June to telecom tower companies. According to a senior executive of a telecom tower firm, Vodafone Idea cited payment of adjusted gross revenue (AGR) to the government and the resultant cash flow problems for the default.  “The company usually pays its dues by 3rd of every month, but this month we have not received any money. Vodafone Idea’s dues to all telecom companies run into several hundred crores,” the executive said. &ldqu.....

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