Vodafone Idea shares jump nearly 6% as SC agrees to consider plea on AGR dues

The assurance came after senior counsel , appearing for Vodafone Idea, sought an urgent hearing in the case before a bench led by Chief Justice .

The operator in its curative plea said that it was not challenging the imposition of license fee on the heads as defined by the apex court, but that these directions were “vitiated by a patent error of law”, resulting in “a gross miscarriage of justice”.

The senior lawyer said that Vodafone Idea's curative petition was filed last year and the company's new backers would like to know its exact liability towards AGR dues.

and Vodafone Idea had last year requested the Supreme Court to hear in the “open court” their curative petitions against an earlier order, which rejected the pleas for rectification of what they called arithmetical errors in the telecom department’s calculation of AGR dues.

The apex court had earlier rejected Vodafone Idea's petition for rectification of alleged errors in the calculation of AGR dues payable by the company. The DoT had calculated Airtel's historical AGR dues at Rs 43,980 crore, of which Rs 18,004 crore has been paid. Vodafone Idea is scheduled to pay Rs 58,254 crore, of which it has paid Rs 7,854 crore.

Shares of Vodafone Idea have given multibagger returns of 136.5% in the last one year while in the last six month, the stock has increased 10% as per BSE analytics. In the last three months, the stock has surged 34%.

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