Vodafone Idea shares fall 2% as SC defers AGR plea hearing to Oct 27

Earlier, the Centre had said efforts were on to arrive at a resolution with the company.

Last month, the government had told the apex court that some solution may be required on Vodafone Idea's petition.

VIL has sought a direction to the DoT to "comprehensively re-assess and reconcile" all AGR dues for the period up to FY 2016-17 following the Deduction Verification Guidelines dated February 3, 2020.

Earlier this year, in a setback to telecom majors, including Bharti Airtel and Vodafone Idea, the apex court had refused to review its 2021 order rejecting their pleas for a rectification of alleged errors in the calculation of the AGR dues payable by them.

Meanwhile, Bloomberg reported, citing sources, on October 6 that India is considering a one-time settlement of its longstanding demand for AGR fees from Vodafone Group Plc’s beleaguered local venture, as the government seeks to strengthen ties with the UK.

Resolution in the nearly Rs 2 lakh crore financial dispute may come through a waiver of interest and penalties, followed by a concession on the principal, said the people, the report said. Officials are drafting the framework and also weighing steps to ensure any deal doesn’t spark legal challenges from other telecom operators that owe dues, Bloomberg reported.

With inputs from Agencies