Supreme Court rejects Vodafone\'s proposal to pay Rs 2,500 crores by today
17 Feb 2020 7:21 AM GMT
The company said it is willing to pay Rs 2,500 crore today and another Rs 1,000 crore by Friday
Vodafone Idea shares zoomed 31.72 per cent to Rs 7.93 on the BSE.
New Delhi: The Supreme Court on Monday refused to accept telecom firm Vodafone's proposal to pay Rs 2,500 crore by today and Rs 1,000 crore by Friday against adjusted gross revenue (AGR) dues and that no coercive action be taken against it.
A bench headed by Justice Arun Mishra declined to accept the proposal given by senior advocate Mukul Rohatgi, appearing for Vodafone, after he mentioned the matter.
Rohatgi said they are willing to pay Rs 2,500 crore today and another Rs 1,000 crore by Friday but no coercive action be taken against the company.
He said the bank guarantee deposited with the government by Vodafone should also not be encashed.
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