Will Vodafone Idea get AGR relief? Telecom minister weighs in
What's the story
Vodafone Idea's hopes of getting relief in its Adjusted Gross Revenue (AGR) dues have been dashed.
The Indian government has reiterated that no waiver request can be entertained in light of the Supreme Court's final judgment.
Telecom Minister Jyotiraditya Scindia confirmed this to Times of India, saying "The Supreme Court has ruled on the matter, and that's where it stands."
Legal proceedings
SC dismisses plea for waiver
Vodafone Idea had earlier approached the Supreme Court seeking a waiver.
However, the top court dismissed the plea, expressing surprise that the company had filed a fresh petition despite previous rejections.
The court termed the plea "misconceived" and refused to even consider the request for waiver of interest and penalties.
Vodafone Idea has an AGR liability of ₹83,400 crore, including ₹12,797 crore in principal dues, ₹28,294 crore in interest, ₹6,012 crore in penalties, and ₹11,151 crore in interest on penalties.
Official position
What the Solicitor General said
The Solicitor General, representing the government, had also clarified the Centre's position before the Supreme Court.
He affirmed that no waiver could be granted, given the apex court's binding judgment.
This further solidified the government's stance on not providing any relief for Vodafone Idea's AGR dues.
Corporate response
'We are engaged with the government'
During a June 2 earnings call with analysts, Vodafone Idea's CEO Akshaya Moondra said they are engaged with the government.
He said, "Whether the government will do so, I cannot comment. But definitely, post the judgment, we continue with our engagement with the government to find a solution to the AGR matter."
However, he also added that he sees no reason why the government should be constrained in any way to offer relief.