SC rejects Vodafone plea to reassess dues

Vodafone Idea (VIL) is staring at a bleak future with the Supreme Court on Monday rejecting a plea for the reassessment of the company’s dues even as it turned down an extended schedule of payments spread over 20 years.

The high cash requirement could put a huge strain on the company’s already stressed balance sheets – especially after reporting a loss of Rs 73,878 crore in 2019-20. Vodafone Idea has paid Rs 7,854 crore of its dues since the verdict last October and will need to pay up an additional Rs 50,400 crore, according to DoT’s calculations.

The court has, however, reserved its verdict on the timeline to pay the remaining dues. The matter is scheduled for hearing on August 10.

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