Telecom Minister Jyotiraditya Scindia said on Wednesday, October 29, that the government has not yet received the Supreme Court's written order in the Vodafone Idea (Vi) adjusted gross revenue (AGR) case and will study its implications before deciding on any relief measures.
Also Read: DoT Defends Fresh AGR Dues Demand as Vodafone Idea Moves SC
Government Yet to Receive Written Order
"We will need to study the order to understand its implications and will wait for Vodafone Idea to apply for seeking relief," Scindia said, according to multiple reports, including one by CNBCTV18 and Moneycontrol [1] by Danish Khan.
Officials told Moneycontrol that the Centre will decide on possible relief measures for Vodafone Idea only after examining the detailed order. "We are waiting for the Supreme Court order, which is yet to be issued. The finer details of the judgment will guide us on the course of action for any possible relief," a senior government official was reportedly quoted in a Live Mint [2] report by Jatin Grover, adding that the written order is still awaited.
Another official reportedly said the telecom operator will have to formally communicate the kind of relief it is seeking once the court issues its directive. "The extent of any relief will depend on internal deliberations and the court’s final wording," the official added, according to the reports [1,2].
Supreme Court AGR Verdict
On October 27, the Supreme Court allowed the Department of Telecommunications (DoT) to reassess its AGR demand from Vodafone Idea and address the company's grievances, clarifying that the decision on relief is a policy matter for the government.
The bench, led by Chief Justice BR Gavai and Justice K Vinod Chandran, observed that any decision on relief was a policy matter. The government currently holds a 49 percent stake in the loss-making telecom operator.
"We see no impediment in the Union of India reconsidering the issue and taking an appropriate decision in law," the court said, while reserving its detailed written order.
Vodafone Idea's Liabilities
Vodafone Idea has challenged a Rs 9,450 crore additional AGR demand, seeking a waiver on interest and penalties. The company owes about Rs 83,400 crore in AGR dues, with annual payments of around Rs 18,000 crore scheduled from March 2026. Including penalties and interest, its total liabilities are nearing Rs 2 lakh crore.
Citi Research and Analysts
Unnamed Analysts quoted in the report [1] said the ruling could pave the way for timely relief to Vodafone Idea and boost bank funding (Rs 25,000 crore), network investments, and equity infusion — potentially reducing the government's stake below 49 percent.
According to Citi Research, the verdict "could have significant positive ramifications for Vodafone Idea and, by extension, for Indus Towers," adding that relief could arrive "in the coming weeks or months."
"A successful equity raise would trigger a chain of positive developments for Vodafone Idea and give Indus Towers management the confidence to reinstate dividends," Citi noted.
Vodafone Idea Welcomes Court Ruling
In a stock exchange filing on October 27, Vodafone Idea welcomed the ruling, stating, "In a positive development, the Hon'ble Supreme Court has today permitted the Government to consider the grievances of Vodafone Idea Limited on the issues relating to AGR. We look forward to working closely with the Department of Telecommunications to resolve this matter in the interests of our nearly 200 million subscribers. This is an impetus to the Digital India vision and ambition of our Honourable Prime Minister. The Order of the Hon'ble Supreme Court is awaited."
