Supreme Court Rejects Telecom Giants' Plea for AGR Dues Waiver

The Supreme Court, on Monday, dismissed the petitions by telecom giants Vodafone, Airtel, and Tata Teleservices which sought a waiver on the adjusted gross revenue (AGR) dues. The court described the petitions as misconceived, highlighting that multinational entities should not have made such appeals.

The bench, consisting of Justices J B Pardiwala and R Mahadevan, expressed shock at the petitions, stating they were unexpected from multinational companies. The panel was firm in its decision to dismiss the requests brought forth by these telecom companies.

Vodafone had requested a waiver of approximately Rs 30,000 crore in interest, penalties, and interest on penalties related to AGR dues. Advocate Mukul Rohatgi argued for Vodafone, indicating the firm's importance in maintaining competition within the sector as the Centre now holds a 49% stake in the company post equity conversion.

(With inputs from agencies.)