Tycoon Loses $3 Billion as India’s Mobile War Weighs on Wealth
Kumar Mangalam Birla, chairman of Aditya Birla Group | Dhiraj Singh | Bloomberg
Text Size:

New Delhi: Vodafone Idea will have to be closed down if the government doesn’t provide relief that the company has sought, its chairman Kumar Mangalam Birla said on Friday.

“We will have to shut shop,” Birla said on a query about the course of action for the company going ahead in the absence of government relief.

He was speaking at the Hindustan Times Leadership Summit here.

Birla indicated that his group will not invest any money in the company in the absence of relief from the government.

“There is no sense that good money should follow bad money,” he said.

Birla said the company will have to opt for insolvency route in the absence of relief.

Also read: How deferring spectrum fees will help ailing Vodafone Idea, Airtel


Subscribe to our channels on YouTube & Telegram

Why news media is in crisis & How you can fix it

India needs free, fair, non-hyphenated and questioning journalism even more as it faces multiple crises.

But the news media is in a crisis of its own. There have been brutal layoffs and pay-cuts. The best of journalism is shrinking, yielding to crude prime-time spectacle.

ThePrint has the finest young reporters, columnists and editors working for it. Sustaining journalism of this quality needs smart and thinking people like you to pay for it. Whether you live in India or overseas, you can do it here.

Support Our Journalism

1 Comment Share Your Views


  1. Is he threatening the users? Let him. Someone else will take the place. This vindicates my view that in India, most businesses run on the basis of loopholes in law and by evading tax. The moment they have to work within four corners of law, these businessmen decide to hang up the boots. Adverse effect of Demonetisation on informal business sector also proves this theory correct. With less cash going around, and compulsion of greater transparency, businesses start making losses. Honest business houses seem to be an exception in India.


Please enter your comment!
Please enter your name here