Vodafone Idea share price : A new controversy may start due to the Supreme Court order on Vodafone Idea. In the written order, the Supreme Court has limited itself to only waiving the additional AGR. This order of the court is only on Voda-Idea, other companies will not benefit from it. Keeping this in mind, the government will also take legal advice on the orders of the Supreme Court. “The government is yet to take legal advice and we will have to consult our legal experts before taking any further steps in any such matter,” an official told Moneycontrol on condition of anonymity.
It is noteworthy that this order of the court allows reconsideration of AGR dues. But this relief applies only to Vodafone Idea Limited and is limited to additional AGR demands raised up to FY 2016-17.
Supreme Court order on Vi
If we look at the Supreme Court order on Vi, the written order of the SC in the Voda Idea AGR case is limited only to waiving additional AGR. Only Vi’s additional AGR of Rs 9400 crore will be waived. The company’s first petition was to waive additional AGR. The company later changed its petition. Vi had demanded waiver of AGR interest and penalty. The government will take legal advice on the SC order.
The Supreme Court has said in its order that the government can provide relief if it wants. The Supreme Court will not interfere in policy matters. The Supreme Court has given relief only to Voda Idea. Airtel will not get any benefit from this decision. The Supreme Court has said that if the government wants, it can place additional demands on Airtel.
Vodafone’s stock has slipped today only due to the Supreme Court’s order on waiving additional AGR. Today this stock has become the top loser of futures by slipping about 7 percent. At the same time, Indus Tower has also fallen by 4 percent.