BSNL Obtains Rs 770 cr Advance from BBNL to Clear its Dues

Bharat Broadband Nigam Limited (BBNL), a state-run infrastructure firm offers Rs 770 crore as advance to BSNL to clear its dues. Bharat Broadband is setting up an optical fibre network under BharatNet Project and it intends to clear BSNL's dues of the vendors involved in this project.

 BSNL has requested BBNL to pay an advance of Rs 1,033 crore to clear its dues of the vendors involved in the project namely UP East and MP Circles of Rs 716 crore along with telecom factory liabilities of Rs 40 crore. But, BBNL has sanctioned around Rs 770 crore.

"Many vendors who were still operating had notices from their suppliers to take them to NCLT and their bankers to declare them NPA," says Sandeep Aggarwal, PHD Chamber of Commerce and Industry telecom committee chairman. He further adds, "We request that all the dues of MSME companies be cleared within 45 days."

Furthermore, Sandeep states that payment to be released by BSNL would help thousands of vendors to revive their operations that were shut down due to delayed payment dues for more than 12 months. He also assured that most of the vendors would receive their payment for invoices raised in December and the some would receive the invoice raised in March 2019.

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