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Vodafone Idea has gone to India's Supreme Court to challenge the government's rejection of a request by the debt-saddled telecom giant to waive more than $5 billion it owes the government, documents show.
The government on April 29 rejected the request by Vodafone Idea CEO Akshaya Moondra for a waiver on interest and penalties it owes on $9.76 billion in dues, saying the survival of India's third-largest telecom player was at risk, according to the letter seen by Reuters on Sunday.
"The request cannot be considered," the communications ministry wrote.
Vodafone Idea, a joint venture between UK-based Vodafone Group Plc and India's Aditya Birla Group, filed a plea in the Supreme Court on Thursday asking the judges to direct New Delhi to act "in public interest", given the "sensitive telecom sector", according to the filing, which is not public.
It was not clear how much relief Vodafone Idea is seeking on the $9.76 billion it owes.
The filing says penalties and interest exceed $5 billion.
While bigger rival Bharti Airtel also faces dues and has challenged them unsuccessfully in court repeatedly, Vodafone Idea's financial health is less secure.
"No support will lead to a point of no return," Vodafone Idea's Moondra wrote in his April 17 letter. The company "will not be able to operate beyond FY26."
He said that if the current situation is not resolved, it will "create a larger damage to country’s reputation and will shake the confidence of global investors".
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