Supreme Court to pronounce judgement on AGR case today

The Supreme Court is expected to pronounce judgment on Bharti Airtel and Vodafone-Idea's plea seeking recomputation of adjusted gross revenue (AGR) dues at 10:30 am today.

On July 19, the Supreme Court heard pleas from Bharti Airtel, Vodafone-Idea as well as Tata Tele seeking a correction of an error in the AGR dues. The apex court reserved the order.

Vodafone-Idea's fund raising plan of Rs 25,000 crore hinges on AGR clarity and it's important from a cash flow management point of view because they have dues that are linked to the AGR payment as well as spectrum obligation which is due from next year March-April. Therefore, it’s a crucial verdict and will lift a longstanding overhang on the incumbent players.