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Vodafone Idea shares surged up to 14 percent after the Supreme Court clarification on AGR dues.
Vodafone Idea Share Price
Vodafone Idea Share Price: Vodafone Idea shares rallied to 14 per cent on Monday, November 03, following the Supreme Court’s clarification on the AGR dues that had been requested by the cash-strapped telecom operator. In its clarification, the SC said that the government is free to consider relief on both additional and reassessment of the AGR dues.
Vodafone Idea sought review of point number 6 in its petition, which talked about additional AGR demand up to the Financial Year 2016-17. Adjusted gross revenue (AGR) is the income figure used to calculate the licence fees and spectrum charges that telecom companies must pay to the government.
At 3:00 pm, shares of Vodafone Idea were trading at Rs 9.51 per share with a gain of 8.93 per cent. The day’s high hit at Rs 9.96 apiece.
In its previous hearing on October 27, the court had not clarified whether the order applies only to Vodafone Idea’s plea over additional AGR dues of around Rs 9,500 crore or to the entire pending AGR amount of nearly Rs 80,000 crore.
What’s Vodafone Idea-Government AGR Demand Tussle?
Vodafone Idea had challenged a fresh AGR demand of Rs 5,606 crore raised by the DoT for FY 2016-17, arguing that the dues had already been settled following the Supreme Court’s landmark 2019 judgment on AGR liabilities.
Appearing for Vodafone Idea, senior advocate Mukul Rohatgi argued that the new claim was unsustainable, as it effectively sought to reopen settled matters.
The company also sought directions for a comprehensive reassessment of all dues up to FY 2016-17, in line with the government’s “Deduction Verification Guidelines” issued on February 3, 2020.
A bench headed by Chief Justice B R Gavai and Justice K Vinod Chandran passed the order while hearing Vodafone Idea’s plea challenging fresh AGR-related demands raised by the Department of Telecommunications (DoT).
The bench noted that the petition sought to quash the additional demand for FY 2016-17 and requested a comprehensive reassessment of all dues. Taking note of the government’s 49% equity stake in Vodafone Idea and its 20 crore subscribers, the court said there was no reason to prevent the Centre from reconsidering the issue.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
November 03, 2025, 15:11 IST
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