Following the Supreme Court’s order allowing Vodafone Idea’s AGR reassessment up to FY17, Bharti Airtel will now approach the government for similar relief. Gopal Vittal said the company seeks a fair, non-discriminatory review of its dues.
The Supreme Court has deferred to October 13 Vodafone Idea’s plea against DoT’s fresh Rs 5,606 crore AGR demand. Both the Centre and VIL sought more time to work out a possible solution.
The Supreme Court denied pleas from Vodafone Idea, Bharti Airtel, and Tata Teleservices for a waiver of Adjusted Gross Revenue dues. Vodafone Idea faces severe financial pressure, warning it may cease operations by FY26 without government aid. Airtel sought relief from interest and penalties, emphasizing the ruling’s financial burden on the telecom sector.
Today(19th Sept), Vodafone Idea shares dropped 15% after the Supreme Court rejected telecom companies’ curative pleas for re-computation of AGR dues. The court’s decision upheld the government’s stance, dismissing the telcos’ claims of “arithmetic errors” in the dues calculation.
