ATC

The fresh approval was necessitated as the nod granted by the shareholders had lapsed

Debt-ridden Vodafone Idea and its vendor ATC Telecom Infrastructure have agreed to extend the last date for subscription of Rs 1,600 crore optionally convertible debentures to February 28, the telecom operator said in a regulatory filing. Vodafone Idea's proposal to issue Rs 1,600 crore debentures to mobile tower vendor ATC Telecom Infrastructure has lapsed in the absence of any response from the government on the conversion of interest dues into equity. "...the Company and ATC have mutually extended the last date for subscription of the OCDs to 28th February, 2023 or such later date as may be mutually agreed, subject to fulfillment of certain conditions precedent," Vodafone Idea (VIL) said in a filing. The conditions for approval include nod of VIL shareholders and conversion of interest liability on the company arising from the deferment of Adjusted Gross Revenue (AGR) and Spectrum Dues into equity shares by the government. Last month, shareholders of debt-ridden Vodafone Idea ..

Shareholders of debt-ridden Vodafone Idea have approved issuing shares worth Rs 1,600 crore to ATC Telecom Infrastructure on a preferential basis, according to a regulatory filing. Vodafone Idea Ltd's (VIL) board has given its nod to settle Rs 1,600 crore dues to equipment vendor ATC Telecom by converting the due amount into equity, if the amount remained unpaid in 18 months. As per the scrutiniser's report with respect to the voting on proposals during the Extraordinary General Meeting (EGM) held on November 21, as many as 99.99 per cent shareholders voted in favour of the "special resolution for issue of securities on a preferential basis". The report was submitted as part of the filing by the company to the stock exchanges on Tuesday. VIL is raising the amount through equity convertible debt bonds that carry a coupon rate of 11.2 per cent per annum payable every six months during its term. According to the company, the funds raised would be used to pay amounts owed to ATC under

Telecom infrastructure provider ATC India on Wednesday announced the appointment of Sandeep Girotra as its chief executive officer (CEO)

The acquisition follows the exercise of a 'put' option by Tata Teleservices (TTSL) and Tata Sons.

Also, no impact would be on IAF, BSF, army helicopter and the state-owned aircraft/helicopter can fly with Governor/Chief Minister of the state

The industry body has written letters to 26 states and two union territories seeking relief

The Aircraft Accident Investigation Bureau (AAIB) has started a probe into the incident, which happened on December 23

One of ATC's inadvertent wrong message to one of the flights resulted in traffic conflict situation