Vodafone Idea will shut in absence of govt relief; Aditya Birla Group won’t invest money: KM Birla

NEW DELHI: Vodafone Idea Limited (VIL) will have to be closed down if the government doesn’t provide relief that the company has sought, its chairman Kumar Mangalam Birla said on Friday at an event in Delhi. His comments follow the Supreme Court’s October 24 order decision on the adjusted gross revenue (AGR), after which the company posted a mammoth loss of Rs 50,921.9 crore in the second quarter, pulled down by provisions for AGR dues.

“We will shut shop if we don’t get relief, it could be the end of the story for us. There is no company in world that could get that kind of money in three months,” Birla said.