Tata Teleservices (Maharashtra) (TTML) has cancelled plan to opt for conversion of interest related to AGR dues into equity, as the interest amount eligible for such conversion has turned out to be far lesser than the company's own calculations. TTML had initially decided to go for conversion of interest on AGR dues into equity and had also communicated its decision to the telecom department.
According to the telecom department, the NPV (net present value) of the interest, which is eligible for conversion into equity, is only Rs 195.22 crore as against the company's calculation of Rs 850 crore.
TTML is a part of the Tata Group. This telecom services company has its presence all over Maharashtra and Goa.
