AGR verdict devastating, telcos on brink of financial insolvency: Voda Idea

Telco had already paid Rs 59,467 crore as spectrum fees to the govt to date

Vodafone-Idea (VIL), in its review petition filed in the Supreme Court against the recent order on adjusted gross revenue, has made it clear that the impact of the judgment is so “devastating” that telecom companies like them are on the “brink of financial insolvency” and the net worth of the company is “drastically depleting.”

Bringing to the notice of the court that the company has not made any “undue profits” or taken advantage of the shift to the revenue share regime, VIL has in its petition said that its promoters, which include Vodafone, the Aditya Birla group, and public shareholders, have