Vodafone Idea, Bharti Airtel tank up to 22% on Govt order to pay AGR dues

Shares of telecom services providers Vodafone Idea and Bharti Airtel were under pressure, plunging up to 22 per cent, in early morning trade on the BSE on Thursday on report that the government has directed the telcos to clear their adjusted gross revenue (AGR) dues in 3 months.

The Department of Telecommunications (DoT) has started the initial process of claiming its dues from telcos, directing them to pay up in accordance with the Supreme Court’s October 24 order, under which they have been given three months to fulfill their obligations, Business Standard reported.