Supreme Court Defers AGR Hearing for Vodafone Idea to October 6
The Supreme Court has postponed the hearing of Vodafone Idea's plea to quash additional AGR demands until October 6. Vodafone Idea challenges a Rs 5,606 crore demand from the Department of Telecommunications for 2016–17. The government holds significant equity in Vodafone, making it a crucial stakeholder.
- Country:
- India
The Supreme Court has postponed the hearing on a plea by telecom giant Vodafone Idea Ltd (VIL) to October 6. VIL seeks to quash additional adjusted gross revenue (AGR) demands up to the financial year 2016-17.
A bench led by Chief Justice B R Gavai granted the deferral at the request of Solicitor General Tushar Mehta, who represents the Centre. The plea, initially listed for the day, will be heard after the Dusshera break.
VIL challenges a fresh Department of Telecommunications (DoT) demand of Rs 5,606 crore for the FY 2016–17. The government owns almost 50% equity in VIL, marking its vested interest in the company's survival.
(With inputs from agencies.)
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- AGR
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- telecom
- DoT
- government
- equity
- Centre
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