The payment made by the company, which is facing heavy debt and mounting liabilities amidst loss of subscribers, also includes a small portion of interest towards delayed payment. It was supposed to pay the amount last month.
“We have received a cheque for Rs 1,700 crore by Vodafone Idea for spectrum and interest liabilities,” an official source said.
The beleaguered telco currently runs a massive gross debt of Rs 2.1 lakh crore while still reeling under crippling losses. The government holds a near 33% stake in the company in lieu of future interest payouts, and has been desperately trying to work out a revival, though the two key promoters are yet to put in fresh equity.