India's Supreme Court rejects Vodafone Idea's plea to recalculate AGR dues, increasing financial risks.

India's Supreme Court has rejected Vodafone Idea's pleas to recalculate its Adjusted Gross Revenue (AGR) dues, leading to a significant drop in the company's stock price. Analysts warn this ruling could precipitate a financial crisis for Vodafone Idea by mid-2024, as it faces annual payments of $4-5 billion. The telecom operator's debts, including $8.5 billion for AGR and $17 billion for spectrum, have raised concerns about its ability to remain viable in a competitive market.

September 19, 2024
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