SC rejects telcos' AGR relief plea

The government's earlier plan to waive 50% of interest and all penalties, which could have reduced Vodafone Idea's dues by ₹52,000 crore and Airtel's by ₹38,000 crore, which was not taken forward, may be revived again, sources said.

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THE GOVERNMENT'S earlier plan to waive 50% of interest and all penalties, which could have reduced Vodafone Idea's dues by ₹52,000 crore and Airtel's by ₹38,000 crore, which was not taken forward, may be revived again, sources said.

Officials said that even the insolvency process is inadequate for the telecom sector, with spectrum disputes stalling past resolutions of Aircel and Reliance Communications. The government has little to gain from allowing Vodafone Idea to slip into bankruptcy, where over 80% of its dues, which are owed to the government, could be locked up indefinitely.