Supreme Court Upholds ₹1.47 Trillion AGR Dues for Telecom Firms

The court's decision to reject the curative petitions from Vodafone Idea and Bharti Airtel intensifies financial pressures on the telecom sector.

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.