Vodafone Idea, has denied reports in media that suggested that the company was exiting India from the rising tax liability and adverse Supreme Court judgment in the tax case. “We wish to inform you that the company is not aware of anything on the subject," Vodafone Idea said in a filing to BSE on Thursday. Vodafone Idea's statement comes a day after the BSE sought clarification from the company on news agency IANS report that said Vodafone was mulling exiting India.
"This is with reference to clarification sought on news item captioned "Vodafone may exit India as losses mount and Firm tells Lenders it won't be able to honor commitments for long.
"In connection with the above, as regards exit of India operations by Vodafone Group is concerned, we wish to inform you that the Company is not aware about anything on the subject as it pertains to Vodafone Group and hence cannot comment on the same," Vodafone Idea Limited's said in a statement to NSE and BSE.
Vodafone also clarified its stance on the debt recast news.
"Further, in so far as news item relating to our commitment to lenders is concerned, we wish to inform that we had received queries from some agencies and we have responded/ clarified to them on "one on one basis", which is appended below:
"There has been reportage in some media alleging that Vodafone Idea has approached its lenders for debt recast. We categorically deny and dismiss this as baseless and factually incorrect. We have not made any request for debt recast to any lender or asked for reworking of payment terms. We continue to pay all our debts as and when these fall due," Vodafdone Idea said in a statement signed by its Company Seceratary Pankaj Kapdeo.
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