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Kumar mangalam birla resigns as non executive chairman of Vodafone idea

Kumar mangalam birla resigns as non executive chairman of Vodafone idea
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Kumar mangalam birla resigns as non executive chairman of Vodafone idea

Kumar mangalam birla resigns as non executive chairman of Vodafone idea

The board of Vodafone-Idea has unanimously appointed Himanshu Kapania, the current non-executive director, as the non-executive chairman of the company.

New Delhi. Kumar Mangalam Birla, the non-executive director and non-executive chairman of Vodafone-Idea, one of the country’s leading telecom companies, has resigned from his post. Vodafone-Idea’s board members accepted his resignation in a meeting held on Wednesday. After this decision of the board, Birla’s resignation has become effective from Wednesday itself. The Board has unanimously assigned the responsibility of non-executive chairman of the company to Himanshu Kapania, the current non-executive director.

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had offered to give its share to the government

Recently, Aditya Birla Group Chairman Kumar Mangalam Birla wrote a letter to the Government of India saying that he wants to give his stake in Vodafone-Idea to the government. After this, Vodafone-Idea shares fell more than 12 percent on August 3. Whereas on August 4, Vodafone-Idea shares fell 18.92 percent and closed at Rs 6. In a letter to Cabinet Secretary Rajiv Gauba, Kumar Mangalam Birla had said that investors no longer want to invest money in the company. This is because they are not getting any clear idea on the outstanding amount of AGR.

AGR dues of Rs 58,254 crore

According to the latest data, Vodafone-Idea has AGR dues of Rs 58,254 crore. Out of this, the company has paid Rs 7854.37 crore. 50,399.63 crore is yet to be paid. The company says that according to its calculations, it has an outstanding balance of only Rs 21,533 crore. In this case, the Supreme Court, in a judgment on July 23, refused that the calculation of AGR dues of companies would not be done again.

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