Vodafone Idea Stock Falls 2% As Supreme Court Postpones Hearing On AGR Dues Case

On Monday, Vodafone Idea's stock price fell approximately 2% following the Supreme Court's decision to postpone the hearing of the company's challenge to pay Rs 9,450 crore in additional adjusted gross revenue (AGR) dues. The postponement came at the request of the Central government, which sought additional time to clarify its position.

Originally scheduled for October 6, the hearing was rescheduled after the Department of Telecommunications (DoT), represented by India’s Solicitor General, requested more time. The Supreme Court emphasized the need for the government to adopt a clear stance on the matter. Vodafone Idea’s legal counsel raised no objections to the delay, lightheartedly noting they welcomed the chance to enjoy the Diwali festivities.

The court has now set October 27 as the new date for the hearing, following the Diwali holiday. This development adds to the uncertainty surrounding Vodafone Idea’s financial obligations in the ongoing AGR dues dispute.

Vodafone Idea’s shares opened at Rs 9.03 on Monday, October 13, 2025, hitting an intraday high of Rs 9.19 before slipping to a low of Rs 8.71 by 12:48 PM IST. By midday, the stock was trading around Rs 8.85, reflecting a roughly 2% decline from its opening value. This dip follows a volatile month for Vi, with the stock losing approximately 15% since its 52-week high of Rs 10.48 in January 2025..

Background of the AGR Dispute

The AGR dispute stems from a long-running battle between telecom operators and the DoT over the calculation of adjusted gross revenue, which determines the license fees and spectrum charges payable to the government.

A 2019 Supreme Court ruling upheld the DoT’s broader definition of AGR, resulting in a massive Rs 1.47 lakh crore liability for the telecom sector, with Vi alone facing dues of around Rs 70,000 crore.

In September 2020, the Supreme Court granted telecom companies 10 years to clear these dues, requiring an initial 10% payment by March 31, 2021, followed by annual installments until March 31, 2031.

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The court also barred reassessments or disputes over the finalized dues. However, Vi has challenged a fresh DoT demand of Rs 9,450 crore, comprising Rs 5,675 crore for pre-merger Vodafone liabilities (up to FY 2016-17) and Rs 2,774 crore for the post-merger Vodafone Idea entity (FY 2018-19).

As reported by ANI, the company argues that this additional demand violates the 2020 ruling, as it revisits periods already settled, and includes duplicated entries and computational errors.

Vi’s latest plea, filed in September 2025, seeks to quash the DoT’s demand and requests a comprehensive reassessment of AGR dues for the period up to FY 2016-17, based on the DoT’s Deduction Verification Guidelines issued on February 3, 2020, the company contends that the DoT’s actions are “unjust, unfair, and arbitrary,” as they impose new demands while denying Vi the opportunity to correct erroneous assessments. 

Vi also highlights the risk to its survival, warning that the additional financial burden could jeopardise jobs and the telecom ecosystem.