SC rejects Vodafone, Airtel, Tata pleas for AGR dues waiver on interest
.webp)
The Supreme Court on Monday dismissed petitions by Bharti Airtel, Vodafone Idea, and Tata Teleservices seeking waivers on interest, penalties, and interest on penalties related to adjusted gross revenue (AGR) dues.
A Bench of Justices JB Pardiwala and R Mahadevan described the petitions as "misconceived" and criticised the companies for approaching the court.
“We are really shocked by these petitions which have come before us. It is not expected of a multinational company. We will dismiss it,” the Bench told senior advocate Mukul Rohatgi, who appeared for Vodafone.
The court also declined to intervene in the Centre’s decision to support the telecom companies.
Telcos sought relief amid financial strain
The ruling came a day after Vodafone Idea filed a plea seeking relief from AGR liabilities exceeding ₹45,000 crore, citing financial distress.
Bharti Airtel also filed an appeal requesting concessions on what it called an “equitable basis”. In its filing, Airtel—along with subsidiary Bharti Hexacom—sought waivers worth ₹34,745 crore in interest and penalties.
The company clarified that it was not contesting the September 1, 2020 AGR verdict, but was requesting relief from the additional burden caused by penalties and accumulated interest.
Vodafone Idea warns of insolvency risk
According to a CNBC-TV18 report, Vodafone Idea has again warned that it may not be able to sustain operations beyond FY26 without additional state assistance.
Despite a ₹26,000 crore equity infusion and the government converting dues into equity, Vi said it has been unable to secure bank financing.
The company told the Centre that, without further intervention, it would not be able to raise funds and may be forced to initiate insolvency proceedings before the National Company Law Tribunal (NCLT).
Vi also warned that the government’s 49 per cent stake in the company could become worthless in the event of insolvency, jeopardising the ₹1.18 trillion in spectrum dues already converted into equity.
Other Latest News
.webp)
The Supreme Court on Monday came down heavily on Madhya Pradesh minister Vijay Shah for his controversial remarks targeting Colonel Sofiya Qureshi, a decorated officer of the Indian Army.
Calling the remarks “shameful", the court rejected Shah’s apology and ordered a Special Investigation Team (SIT), led by a woman officer, to probe the case registered against him.
.webp)
Former US President Joe Biden has been diagnosed with an 'aggressive form' of prostate cancer that has spread to his bones, as per a statement from his office released on Sunday (local time). According to the statement, the diagnosis followed the discovery of a prostate nodule after he reported worsening urinary symptoms, with tests confirming a high-grade cancer with a Gleason score of 9 (Grade Group 5), indicating metastasis to the bone.
.webp)
China is reportedly fast-tracking the construction of the Mohmand Dam in Pakistan, a key hydropower and water security project, in the wake of rising tensions between India and Pakistan over the Indus Waters Treaty.
Concrete filling on the dam had begun. This is a “critical construction milestone”, which marks an “accelerated development phase” for what Beijing has called a “national flagship project” for Pakistan, according to a report by the South China Morning Post.
.webp)
“It was so ominous that there were no calls for help. Everyone inside was silent,” said Zubhan, a retailer in Hyderabad’s Charminar area, after 17 members of a family died in a fire at a residential building.
In the early hours of Sunday, May 18, a fire engulfed the three-storey building in the Gulzar Houz area, killing the family members—including eight children.
.webp)
Anil Ambani-led Reliance Power has partnered with Bhutan’s Druk Holding and Investments (DHI) to develop the country’s largest solar power project in a ₹2,000 crore joint venture. The 500 megawatt (MW) project will be developed under a 50:50 partnership through a Build-Own-Operate (BOO) model.
The project is expected to be the largest private sector foreign direct investment (FDI) in Bhutan’s solar sector to date.
.webp)
.webp)
.webp)
.webp)
.webp)
