Vi moves SC against govt. refusal on loan waiver
SUBSCRIBE
JOBS
Go Back
7 months ago 06:00:27am Television

Vi moves SC against govt. refusal on loan waiver

New Delhi, 19 May, 2025, By IBW Team

Vi moves SC against govt. refusal on loan waiver

Vodafone Idea has gone to India’s Supreme Court to challenge the government’s rejection of a request by the debt-saddled telecom giant to waive more than $5 billion it owes the government, documents show, according to a Reuters report.

The government on April 29 rejected the request by Vodafone Idea CEO Akshaya Moondra for a waiver on interest and penalties it owes on $9.76 billion in dues, saying the survival of India’s third-largest telecom player was at risk, according to the letter seen by Reuters yesterday. “The request cannot be considered,” the Communications Ministry wrote.

Vodafone Idea, a joint venture between UK-based Vodafone Group Plc and India’s Aditya Birla Group, filed a plea in the Supreme Court on Thursday asking the judges to direct New Delhi to act “in public interest”, given the “sensitive telecom sector”, according to the filing, which is not public.

Vodafone Idea and the government did not respond to requests for comment, the Reuters report added.

The company has struggled to pay outstanding spectrum and revenue-sharing dues since a landmark 2019 Supreme Court order that widened the scope of revenues on which the dues are assessed. The ruling on adjusted gross revenue has been the biggest overhang for India’s telecom industry, increasing demands on companies by billions of dollars.

To help Vodafone Idea, the government has over time converted part of the dues into equity and increased its stake in the company to 49 percent.

The court is likely to hear the case this week. The judges have repeatedly rejected Vodafone Idea’s requests to change their decision ordering recovery of outstanding dues.

It was not clear how much relief Vodafone Idea is seeking on the $9.76 billion it owes. The filing says penalties and interest exceed $5 billion.

“No support will lead to a point of no return,” Moondra wrote in his April 17 letter. The company “will not be able to operate beyond FY26.”


Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Our Events

  • img
    SatCab Symposium

    SatCab symposium organized by Aavishkar Media Group is an annual event. It's a well-informed event where we have a panel discussion on the current affairs and future forecasting on our industry.

  • img
    BCS
    Ratna Awards

    BCS Ratna Award organized by Aavishkar Media Group is an annual event. In this award function, a community of our industry is honored by receiving the award for the contribution of their work.

  • img
    Chetna Yatra

    Chetna Yatra organized by Aavishkar Media Group is an annual event. Held by Dr. AK Rastogi, Chairman of Aavishkar Media Group. Pilgrimage India in his car for connecting the people of our industry.

  • img
    Imaan India Sammaan

    Imaan India Samman is an event mobilized by Aavishkar Media Group, which was launched in 2012. Giving the award to the NGOs for giving their contribution to society.

Youtube Videos