Around 12.30 p.m., Bharti
Vodafone Idea shares on the BSE were trading at Rs 8.40, lower by Rs 1.79 or 17.57 per cent from its previous close.
The top court said that every year by February 7, payment has to be made and telecom companies will have to face contempt proceedings along with a penalty in case of default in payment of annual instalment.
The Centre had sought a 20-year timeline for the adjusted gross revenue (AGR) payments, and both Vodafone Idea and Bharti Airtel had sought a 15-year timeline.
Vodafone Idea is in a financially weaker position than the other telcos and has time and again said that it would have to shut shop if it were to pay the dues in one go.
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Supreme Court directs Airtel, Vodafone Idea and others to pay AGR dues over 10 years