Some solution has to be found in Vi’s AGR case, Centre tells SC

Govt says talks are ongoing to find a resolution

- BHAVINI MISHRA

The Centre on Friday told the Supreme Court that “some solution has to be found” regarding Vodafone’s fresh plea seeking directions to set aside the telecom department’s additional demand for adjusted gross revenue (AGR).

The Centre told the court that talks were on between the government and Vodafone.

Appearing for the Centre, Solicitor General Tushar Mehta said the central government had become a major shareholder in Vodafone.

“The Government of India has also infused 50 per cent equity. So we are stakeholders. A solution may have to be found, subject to your Lordships’ approval. If it can be kept next week, we can think of some solution,” Mehta said.

Shares of Vi (Vodafone) gained following the hearing of the case and ended the day at 8.62, its highest since February 14.