SC rejects telecom firms’ pleas on AGR case, Vodafone Idea stocks tank

The Supreme Court has rejected curative petitions seeking a review of its 2019 judgment on adjusted gross revenues (AGR) payable by telecom firms.

The judgment had permitted the Department of Telecommunications (DoT) to include all non-telecom revenue in AGR.

The curative petitions had been put up by the telcos as a last legal resort to reduce their burden of Rs 1.43 trillion in AGR, which was based on a subsequent judgment in 2020. Of this, nearly 75 per cent comprised interest, penalties, and interest on penalties.