Vodafone Idea Share drowned about 9% after the Supreme Court rejected the Agri Relief Petition

New Delhi: Shares of Vodafone Idea (VI) on Monday recorded a rapid decline after the Supreme Court on Monday dismissed the petitions by the major telecom companies who relieved the arrears of the GDP.VI’s stock fell by Rs 6.73 in the day 8.68 percent less on BSE, which fell as 12.21 percent intraday to Rs 6.47.The market captivity of Vodafone Idea eradicated a market response of about Rs 6,933.95 crore, causing it to Rs 72,914.86 crore, as reported by PTI.The firm rejection of the Supreme Court’s appeals also influenced the respective shares. Indus Towers saw a decline of 2.87 percent in its shares, while Tata Telsarvis slipped to 0.46 percent.Telecom firms – Vodafone Idea, Bharti Airtel and Tata Teleswis – cited calculation errors and duplicate entries, demanded interest, fine and discount on interest, fine and interest on their agri -dues. Vodafone Idea alone requested a relief of about Rs 30,000 crore.However, a bench, including Justices JB Pardwala and R Mahadan, rejected the arguments, called them “wrong”. Addressing senior advocate Mukul Rohtgi representing Vodafone, the bench said, “We are really surprised by these petitions that have come to us. Really upset. It is not expected from a multinational company. We will dismiss it.”Read more: Setback for Telecom Major: SC Vodafone, Airtel, Tata Teleswis rejects the arrears for the outstanding discounts, call appeals “wrong” callsThe apex court had already rejected a similar appeal in July 2021, which maintained the government’s status on the recovery of the arrears. On Monday, it refused to intervene again with the Telecom Department’s stand, indicating a firm end to prolonged litigation on the matter.VI said a few days after the Department of Telecommunications (DOT) was written that this adjusted gross revenue (AGR) would not be able to continue to operate beyond the financial year 26 without government support on the arrears. In a letter on 17 April 2025, VI CEO Akshay Mondra wrote to the Telecom Secretary, “Without the time of Goi (Government of India) on AGR, VIL will not be able to operate beyond FY 26 as the bank funding discussion will not proceed,” saying that “no support will happen, no support.,Read more: ‘Won’t be able to operate beyond FY26,’ Vodafone Idea says in a warning in a warning