Vodafone Idea shares dive 12% as SC rejects $5B dues waiver

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, had sought relief from the Department of Telecommunications, warning about its survival. Despite the government converting some dues into equity, the company faces significant financial stress.

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