Supreme Court Rejects Telcos' Plea on AGR Dues Owed to Government | Read
India's top court on Thursday rejected a request by telecom companies to recalculate the dues they owed the government, sending shares of debt-saddled Vodafone Idea and its peers down.
Analysts at ICRA estimate that Vodafone Idea and Bharti Airtel owe 1 trillion rupees ($12 billion) in past dues, including spectrum charges and licensing fees. They, however, did not shed light on the amount owed by other companies.
The companies, in a last-resort petition against a similar ruling by the top court in 2021, had argued that the telecom department made errors in calculating the so-called adjusted gross revenue (AGR) dues.
