The Supreme Court has issued a clarification on AGR dues for Vodafone Idea, resulting in the biggest gain in a single day for the telecom company. The apex court said Vodafone Idea had sought relief from additional AGR dues as well as reassessment of all pending dues.
According to a report by CNBC-TV18, the apex court clarified that the government is free to consider relief from additional AGR dues and reassessment.
Shares of Vodafone Idea gained 14 per cent on Monday.
This clarification came after Vodafone Idea sought a review of point number 6 of its petition, focusing on the additional demand for AGR for the period up to FY 2016-17. The central government has expressed support for Vodafone Idea’s stand, emphasizing the urgency of fair reassessment of dues.
Vodafone Idea has contested DoT’s claim for an additional Rs 9,450 crore in AGR dues and sought waiver of interest and penalty. The company, with outstanding AGR dues of around Rs 83,400 crore, is expected to make annual payments of around Rs 18,000 crore from March 2026. Including interest and penalties, Vodafone Idea’s total liabilities are estimated at nearly Rs 2 lakh crore.
An earlier Supreme Court order on October 27 implied that Vodafone Idea’s appeal was limited to relief from additional AGR dues.
Meanwhile, according to a report in The Economic Times, American private equity firm Tillman Global Holdings (TGH) is in talks to invest between $4 billion and $6 billion in Vodafone Idea and take operational control, according to a November 3 report.
