Overview

• India’s top court deferred Vodafone Idea’s AGR case to October 6 after the government sought an adjournment.
• Shares fell up to 8–9% intraday to about Rs 7.90 on the NSE and BSE following the postponement.
• Vodafone Idea has petitioned to quash an additional Rs 9,450 crore demand raised by the Department of Telecommunications for dues pending through FY2019.
• Solicitor General Tushar Mehta told the bench the Department of Telecommunications needs more time to present its position.
• The dispute traces back to a 2019 ruling that broadened AGR and a 2020 order allowing 10-year payments without reassessment, with Vodafone Idea owing over Rs 83,000 crore as the government, now its largest shareholder, has indicated no AGR relief is being contemplated.