SC refuses to accept Vodafone Idea’s proposal to pay Rs 2,500 cr by today

The Supreme Court Monday rejected telecom firm Vodafone Idea’s proposal to pay Rs 2,500 crore by the end of the day and Rs 1,000 crore by Friday against Adjusted Gross Revenue (AGR) dues, while also refusing its plea 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 (Monday) and another Rs 1,000 crore by Friday but no coercive action be taken against the company.

He urged the bank guarantee deposited with the government by Vodafone should also not be encashed.