SC allows government to reassess AGR dues for Vodafone Idea
The Supreme Court just gave the green light for the government to reconsider additional AGR dues demanded from Vodafone Idea—including a disputed ₹9,450 crore, with ₹5,606 crore specifically for FY2016-17.
This is a much-needed breather for Vodafone Idea, which already faces huge dues of around ₹83,400 crore and has been struggling to stay afloat.
Decision could protect users, keep telecom sector stable
Vodafone Idea argued they've already paid most of what's owed under a 2019 judgment and warned that more demands could threaten their survival—putting nearly 200 million subscribers and over 18,000 jobs at risk.
With the government now owning 49% of the company, this decision could help protect users and keep the telecom sector stable.
Investors seemed hopeful too: Vodafone Idea shares jumped over 11% after the news.