Vodafone-Idea Likely To File Review Petition In Supreme Court: Know Why

Although the Supreme Court rejected Vodafone-Idea's request for recalculation of AGR dues, the telco is likely to file the review petition. It seems that Vodafone-Idea is exploring all ways to reduce its adjusted gross revenue (AGR) dues so that it can survive in the country.

Vodafone-Idea Review Petition Again: Check Again

"Vi is expected to move SC again with their review petition. If the appeal gets rejected, then the telco still has the option of a curative petition," sources said.

This development comes a week after the apex court ruled in favour of the Department of Telecommunication and asked Vodafone-Idea, Airtel, and Tata Teleservices to clear dues.

For the unaware, India's third telecom operator Vodafone-Idea has to pay Rs. 58,254 crores AGR dues to the Government. However, the telecom operator paid only Rs. 7,854 crores and claimed that the DoT calculation is wrong. In fact, telecom operator pegged its dues close to around Rs. 25,000 crores.

Sources said that the review update comes at that when a company thinks that all matters have not been discussed and matters have been left. However, it should be noted that the review petition has not received great success in the past.

"Chances of SC listening to a review petition and giving a favorable response for the telco is slim. But they have to take this route, if they want to go for curative later," lawyer was quoted by ET.

Notably, Airtel, Vodafone-Idea, and Tata Teleservices have filed a review petition against the AGR verdict that was rejected by the Supreme Court in January 2020. However, it is not clear that Airtel and Tata Teleservices are also planning to file the petition or not.

Vodafone-Idea Plans To Raise Funds

Vodafone-Idea plans to raise funds. Vodafone-idea is trying to raise Rs. 25,000 crores since 10 months, but hasn't been able to complete this deal, despite it is in discussion with several companies, such as Oak Hill-led consortium, Apollo Global, and KKR.

This development comes at that time when the telecom operator launched postpaid plans for the enterprise segment to increase its average revenue per user from the same.