Vodafone Idea Limited (VIL) has received a relief from the Supreme Court. No, this is not about the adjusted gross revenue (AGR) dues case. It is about another one, with a fairly low amount comparatively. Back in 2019, Vodafone Idea had approached the National Company Law Tribunal (NCLT) before it moved its tower assets company to Vodafone Towers (now Vodafone Idea Telecom Infrastructure). The telco had asked how much stamp duty it needs to pay for the move. The Additional Superintendent of Stamps had said Rs 25 crore for the stamp duty.
Read More - Vodafone Idea Launches 5G in Jaipur
Gujarat Stamp Department, however, asked the telco to pay Rs 7.64 crore penalty for not paying the stamp duty. This happened even after proper communication from Vi, as per a report from ET. The telco then moved to the Gujarat High Court with the case, where the HC ruled in favour of the telecom operator.
Read More - Airtel Becomes 3rd Largest Market Cap Company in India
Then the Gujarat government took the case to the Suprme Court. However, even the Supreme Court ruled in favour of the telecom company. This means that Vi doesn't need to pay Rs 7.64 crore penalty to the Gujarat government.
