India Court Rejects Plea for Relief on $14 Billion Telecom Dues

India’s Supreme Court rejected petitions by telecom companies seeking a reassessment of how much they owe the government, a two-decade-long dispute that threatens the survival of cash-strapped Vodafone Idea Ltd., Bloomberg News reported. A two-judge panel headed by L. Nageswara Rao on Friday dismissed the petitions by Vodafone Idea and Bharti Airtel Ltd. “All applications are dismissed,” Rao said without without giving reasons. A detailed copy of the order is awaited. During the previous hearing, judges referred to a verdict last year that said no recalculation would be allowed. Read more.
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