Big win for Vi as SC allows govt to revisit full AGR dues

TROUBLED TELCO'S STOCK SURGES AFTER TOP COURT'S CLARITY

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THE SUPREME COURT on Monday cleared the air over the scope of its earlier order in the adjusted gross revenue (AGR) case, affirming that the government is free to comprehensively reassess and reconcile all AGR dues of Vodafone Idea up to financial year 2016-17.

The clarification effectively ends days of confusion over whether the relief extended to the entire dues or only the additional 9,449-crore demand raised by the department of telecommunications (DOT).

In its clarification order, the apex court said that the prayer in Vodafone Idea's petition sought relief not only on the additional demand but also for a comprehensive reassessment of all dues up to FY17.The bench said there was no impediment to the government reviewing both aspects, given the peculiar circumstances of the case, including its own equity holding in the company and the wider public interest involved.

This clarification now allows the government to revisit the computation of all dues arising from the AGR dispute, and not just the incremental amount that had triggered the current litigation.