On Monday, October 13, shares of Vodafone Idea Ltd. dropped by 3% after the Supreme Court once again postponed hearing the company’s plea regarding additional adjusted gross revenue (AGR) dues. The deferment came after the Centre, represented by the Solicitor General, requested more time on behalf of the Department of Telecommunications (DoT). The court emphasized that the government must take a clear position and rescheduled the hearing for October 27, post-Diwali. This marks the fourth postponement in a month.
The timeline shows a series of delays: On September 19, the Centre said it didn’t oppose the plea but sought a resolution. The hearing was moved to September 26. Then, on September 26 and October 6, further adjournments followed after the Centre again requested more time. On October 13, the process was deferred yet again.
Vodafone Idea’s plea challenges the DoT’s ₹9,450 crore AGR demand, calling it beyond the scope of the Supreme Court’s earlier ruling. The government maintains the dues are from accounting gaps, not reassessments. Despite holding a 49% equity stake after a 2021 relief package, the Centre has ruled out any further assistance or converting the company into a PSU.
