Supreme Court to Hear Vodafone Idea's Plea for Rs 30,000 Crore AGR Waiver

The Supreme Court has agreed to hear Vodafone Idea's latest plea seeking a waiver of around Rs 30,000 crore in adjusted gross revenue dues. The telecom company, represented by senior lawyer Mukul Rohatgi, argues that the waiver is crucial for its survival and maintaining competition in the telecom sector.

The Supreme Court is set to hear a new plea from Vodafone Idea requesting a waiver of approximately Rs 30,000 crore in adjusted gross revenue (AGR) dues. The bench, comprising Chief Justice B R Gavai and Justice Augustine George Masih, was urged by senior lawyer Mukul Rohatgi to prioritize the telecom firm's urgent appeal.

The plea, which seeks relief from penalties and interest, is critical for Vodafone Idea's survival amid heightened competition in the telecom sector. The Indian government now owns a 49 percent stake in the company, following a recent conversion of its interest dues into equity.

The bench plans to address the plea on November 19, after having previously refused to review an order rejecting telecom majors' pleas for rectification of AGR dues calculations. The Department of Telecommunications had previously demanded the full payment of dues within a decade, following a 2019 verdict.

(With inputs from agencies.)