Vodafone Idea Seeks Supreme Court's Mercy over Mounting AGR Dues

In a crucial plea, Vodafone Idea has approached the Supreme Court seeking a waiver of approximately Rs 30,000 crore in adjusted gross revenue (AGR) dues. Represented by senior lawyer Mukul Rohatgi, the company emphasizes the dire need for an urgent hearing to ensure its survival in the competitive telecom sector.

Vodafone Idea has highlighted to the court the significant burden placed on them by interest and penalty dues as part of the AGR obligations. The telecom giant, in which the Indian government now holds nearly a 49% stake, argues that the financial demands threaten its operational viability and workforce livelihood.

Previously, the Supreme Court had dismissed pleas to rectify alleged errors in AGR calculations. Despite Vodafone's pivotal role and substantial financial contributions to India's telecom ecosystem, the company expresses concerns about its future if it continues under such severe financial strain.

(With inputs from agencies.)