Vodafone Idea says it may shut shop if AGR ‘errors’ not corrected

Vodafone Idea NSE 0.00 % (Vi) said it is a “travesty of justice” and “inconceivable” that the Supreme Court (SC) has not allowed “errors” in adjusted gross revenue (AGR) calculations to be corrected, a ruling which will cost the cash-strapped telco around ₹25,000 crore and force it to “go under”.

In its petition filed on Tuesday to review the July 23 order of the court not allowing correction of alleged errors in the telecom department’s AGR calculations, the struggling telco said it had no intentions to “wriggle out” from paying its AGR dues as mandated by the court. But if arithmetical mistakes are not allowed to be corrected, then it will have to shut shop, leaving nearly 280 million subscribers, some 20,000 direct and indirect employees, banks and retailers high and dry, with even the government getting hurt in the process.