Vendors Concerned Over BSNL/MTNL Insolvency Process
Some vendors of BSNL and MTNL are mulling to move insolvency pleas against the state-run firms for non-payment of dues, estimated to be around Rs 20,000 crore, a senior industry body executive said.
The pending payments are against the supply of telecom gear and other goods to BSNL and MTNL as well as Rs 45,000-crore rural broadband project BharatNet, PHD Chamber of Commerce Telecom Committee chairman Sandeep Aggarwal said.
“The total pending payment of BSNL and MTNL vendors is around Rs 20,000 crore. Banks have started putting pressure on vendors to clear their dues.
All vendors will jointly stage a protest on November 19. If payments are not made within 10 days thereafter, they will approach NCLT for liquidation of BSNL and MTNL,” Aggarwal claimed.
When contacted, MTNL Chairman and Managing Director Sunil Kumar said, “Vendor payment due on MTNL is not very high. It will be not more than Rs 400 crore. We are well placed to clear the the dues very soon.”
The Telecom Export Promotion Council on October 31, 2019, wrote to the administrator of Universal Service Obligation Fund (USOF) to pay long-pending dues of around Rs 2,000 crore to various vendors. USOF manages the BharatNet project.
These vendors include Sterlite Technologies (Rs 500 crore due), Tejas Networks (Rs 314 crore), HFCL (Rs 219 crore), Paramount Wires and Cables (Rs 168 crore), VNL (Rs 150 crore) etc, according to the letter.