India's Vodafone Idea had its petition to waive more than $5 billion in debt it owes to the government rejected by the country's top court on Monday, dealing a major setback to the telecoms giant. The company has struggled to pay outstanding spectrum and revenue-sharing dues since a landmark 2019 Supreme Court order widened the scope of revenues on which the payments are assessed.

Vodafone Idea Ltd (Vi) suffered a sharp stock decline of 8.68 per cent on Monday, 19 May 2025, after the Supreme Court of India dismissed its plea—alongside Bharti Airtel and Tata Teleservices—seeking relief from adjusted gross revenue (AGR) dues.

Vodafone Idea shares plummeted after the Supreme Court rejected its plea to waive over $5 billion in interest and penalties on statutory dues. The telecom operator, burdened with $25 billion in net debt,