Vodafone Idea secures Rs 5,836 crore promoter payout
Vodafone Idea will receive Rs 5,836 crore from the promoter Vodafone Group as part of the amended Implementation Agreement (IA) regarding its long-pending contingent liability settlement.
The promoters will release an amount of Rs 2,307 crore over the next 12 months in accordance with the terms agreed in the amended agreement.
The IA governs the contingent liability adjustment mechanism (CLAM) established at the time of the merger among erstwhile Vodafone India and Idea Cellular, and the Amendment Agreement records the discharge of such CLAM.
The promoters will release an amount of Rs 2,307 crore over the next 12 months in accordance with the terms agreed in the amended agreement.
The IA governs the contingent liability adjustment mechanism (CLAM) established at the time of the merger among erstwhile Vodafone India and Idea Cellular, and the Amendment Agreement records the discharge of such CLAM.
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