Overview

• The Supreme Court dismissed curative petitions from Vodafone Idea and Bharti Airtel seeking re-computation of adjusted gross revenue (AGR) dues.
• The decision maintains the ₹1.47 trillion AGR demand, significantly impacting the financial health of the telecom companies.
• Vodafone Idea's shares plummeted over 15%, while Indus Towers fell 10% following the court's ruling.
• The telecom firms argued that the Department of Telecommunications' calculations were erroneous and included non-telecom revenues.
• The court's 2019 ruling required telecom companies to pay AGR dues over a 10-year period, with 10% of the total due by March 31 each year.