The Supreme Court issued a clarification on the AGR dues for Vodafone Idea resulting in the biggest single-day gain for the telco. The apex court stated that Vodafone Idea had asked for relief on both additional AGR dues as well as a reassessment of all the pending dues.
According to a report in CNBC-TV18, the apex court has clarified that the government is free to consider relief on both additional and reassessment of the AGR dues.
Shares of Vodafone Idea gained 14 per cent on Monday.
The clarification came after Vodafone Idea sought a review of point number 6 in its petition, focusing on additional AGR demand for the period up to the financial year 2016-17. The central government expressed support for Vodafone Idea’s position, highlighting the urgency for a fair reassessment of dues.
Vodafone Idea challenged DoT’s claim for an additional Rs 9,450 crore in AGR dues and requested a waiver of interest and penalties. The company, with outstanding AGR dues of approximately Rs 83,400 crore, is scheduled 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 Vodafone Idea’s appeal was limited to relief from additional AGR dues.
Meanwhile, according to a report in The Economic Times, US private equity firm Tillman Global Holdings (TGH) is in discussions to invest between $4 billion and $6 billion in Vodafone Idea and take operational control, according to a report on November 3. The report stated that the investment will proceed only if the government provides a comprehensive package addressing all liabilities, including dues related to adjusted gross revenue and spectrum payments.
