The Supreme Court has dismissed the last pending Review Petition filed by telecom operators, including Vodafone Idea (Vi), in the long-running Adjusted Gross Revenue (AGR) case. This decision effectively closes all AGR-related legal matters at the apex court, Vodafone Idea clarified in an exchange filing on Friday, February 14, 2025.
Also Read: Vodafone Idea Asked to Provide Rs 6,090 Crore Bank Guarantee: Report
Over the years, telecom companies had filed multiple petitions, including Miscellaneous Applications, Review Petitions, and a Curative Petition, seeking corrections in AGR demand calculations. The Curative Petition was dismissed on September 19, 2024, and now, with the rejection of the pending Review Petition dated August 23, 2021, all avenues for legal relief have been exhausted.
Vodafone Idea's Clarification on AGR Petition
"This has reference to the media Article 'SC deals big blow to Vodafone Idea, Airtel on AGR dues miscalculation plea appearing in mainstream media on February 14, 2025, and the consequent price movement in the Scrip of the Company," the exchange filing read.
"In this regard, we wish to inform you that, there were Miscellaneous applications, Review Petitions and a Curative Petition filed in the AGR matter at the Hon’ble Supreme Court from time to time by the Company and other telecom operators, mostly dealing with the need for allowing correction of manifest errors in AGR demands. These petitions had mostly been disposed of, the last being the dismissal of the Curative Petition for which we had intimated the Stock Exchanges on September 19, 2024. However, there was one pending Review Petition dated August 23, 2021, which has now been dismissed, which closes all AGR-related matters at the Hon'ble Supreme Court," Vi added in the filing.
Also Read: Vodafone Idea Reports Rs 6,609 Crore Loss, Plans 5G Rollout in Mumbai by March 2025
Clarification on Rs 10,000-Crore Capex Guidance
In another clarification sought by the stock exchanges regarding the news item captioned "Vodafone Idea shares rally 7 percent on plans to fund Rs 10,000-crore expansion," appearing in Moneycontrol.com on February 13, 2025, and the consequent price movement, the telco clarified that the company had reiterated the capex guidance of Rs 10,000 crore for the financial year 2024-25.
"We wish to inform that the company had at the earnings call held on November 14, 2024, given a capex guidance of Rs 10,000 crore for Financial Year 2024-25.
Also Read: Government Waives Bank Guarantees; Vodafone Idea Sees Boost for 4G, 5G Investments
Further, at the investors conference call held on February 12, 2025, following the quarterly results which were declared on February 11, 2025, the Company had re-iterated the capex guidance of Rs 10,000 crore for the Financial Year 2024-25 of which around Rs 5,300 crore has already been spent till December 31, 2024," Vi clarified in an exchange filing on February 14, 2025.
