NEW DELHI: Shares of Vodafone Concept (Vi) plunged sharply on Monday after the Supreme Court docket dismissed petitions by main telecom corporations searching for aid from adjusted gross income (AGR) dues.Vi’s inventory ended the day 8.68 per cent decrease at Rs 6.73 on the BSE, after falling as a lot as 12.21 per cent intraday to Rs 6.47.The market response worn out roughly Rs 6,933.95 crore from Vodafone Concept’s market capitalisation, bringing it all the way down to Rs 72,914.86 crore, as reported by PTI.The Supreme Court docket’s agency rejection of the appeals additionally impacted associated shares. Indus Towers noticed its shares decline by 2.87 per cent, whereas Tata Teleservices slipped by 0.46 per cent.The telecom companies – Vodafone Concept, Bharti Airtel, and Tata Teleservices – had sought waivers on the curiosity, penalty, and curiosity on penalty elements of their AGR dues, citing calculation errors and duplicate entries. Vodafone Concept alone had requested aid of round Rs 30,000 crore.Nevertheless, a bench comprising Justices J B Pardiwala and R Mahadevan dismissed the pleas, terming them “misconceived.” “We’re actually shocked by these petitions which have come earlier than us. Actually disturbed. It isn’t anticipated of a multinational firm. We’ll dismiss it,” the bench remarked, addressing senior advocate Mukul Rohatgi, who represented Vodafone.Learn extra: Setback for telecom majors: SC rejects pleas by Vodafone, Airtel, Tata Teleservices for AGR dues waiver, calls appeals ‘misconceived’The apex court docket had already rejected comparable appeals in July 2021, upholding the federal government’s place on the restoration of dues. On Monday, it once more declined to intrude with the Division of Telecommunications’ stance, signaling a agency finish to the extended litigation on the matter.This comes simply days after Vi wrote to the Division of Telecommunications (DoT) that it will be unable to proceed operations past FY26 with out authorities assist on adjusted gross income (AGR) dues. In a letter dated April 17, 2025, Vi CEO Akshaya Moondra had written to the Telecom Secretary, saying, “With out GoI’s (Authorities of India) well timed assist on AGR, VIL will be unable to function past FY26 because the financial institution funding discussions is not going to transfer ahead,” including that “no assist will lead to a degree of no return.“Learn extra: ‘Will be unable to function past FY26,’ says Vodafone Concept’s in a warning whereas asking for presidency assist on AGR dues