New Delhi: Vodafone chairman Kumar Mangalam Birla said on Friday that it has sought relief for Vodafone Idea, India’s third-largest mobile service provider, from the Centre, adding that it will have to be closed down if the government doesn’t provide the aid.
“We will have to shut shop,” Birla said on a query about the course of action for the company going ahead in the absence of government relief. He was speaking at the Hindustan Times Leadership Summit in the national capital.
Birla said that his group was not willing to invest money in the company in the absence of relief from the government.
“There is no sense that good money should follow bad money,” he said.
Birla said the company will have to opt for an insolvency route in the absence of relief.
Both Airtel and Vodafone Idea have petitioned the government for relief in waiver of interest and penalty, which will halve the dues, and also filed a review petition in the Supreme Court.
(With PTI inputs)