Vodafone Idea investors cheer on hope of solution to new AGR case

Vodafone Idea Ltd investors celebrated after the Centre sought time to resolve the latest dispute over its statutory dues, citing consumer interest and its own stakeholding in the beleaguered telco.

- Krishna Yadav & Jatin Grover

Solicitor general Tushar Mehta told a Supreme Court bench that since the government now holds a significant stake in the country’s thirdlargest telco, there has to be a solution that benefits consumers. He urged the court to hear the matter urgently next Friday to work towards a resolution.

“In the larger public interest—and essentially in the interest of consumers to maintain a balance in the competing market—the government of India has also infused 30% equity. So, we are stakeholders as well. Some solution may need to be worked out, subject to Your Lordships' approval. If it can be taken up next week, we can also consider possible options,” Mehta told the court. The court will hear the case on 26 September.