AGR: SC Quashes Airtel, Vodafone-Idea Review Plea

The Hindu Business Line|January 17, 2020

AGR: SC Quashes Airtel, Vodafone-Idea Review Plea
Verdict may force Voda-Idea to shut shop, say analysts
S Ronendra Singh

In a setback to telecom operators Bharti Airtel and Vodafone-Idea, the Supreme Court on Thursday dismissed their plea seeking a review of its earlier order asking them to pay ₹1.47-lakh crore in past statutory dues of adjusted gross revenue (AGR) by January 23.

“Applications for hearing in open court/ oral hearing are rejected. Having perused the review petition and the connected papers with meticulous care, we do not find any justifiable reason to entertain the review petitions. The review petitions are, accordingly, dismissed,” a Bench comprising Justices Arun Mishra, S Abdul Nazeer and MR Shah said in the order.

The apex court verdict may force Vodafone-Idea to shut shop, as the company has already made huge investments and there is not much to gain from its operations, due to steep competition from Reliance Jio and Airtel.

Kumar Mangalam Birla, Chairman, Vodafone-Idea, had also recently said that Vodafone may have to shut shop if the government does not agree to provide relief in the AGR case.

Piling dues

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January 17, 2020