Vodafone Idea Faces Collapse After Court Ruling on Liabilities

India’s top court rejected a plea by mobile carriers seeking more time to settle billions of dollars in back-fees, threatening to push Vodafone Group Plc’s beleaguered local venture to the brink weeks after it warned of a potential collapse, Bloomberg News reported. The Supreme Court’s three-judge panel, headed by Arun Mishra, said Friday that operators including Vodafone Idea Ltd. and Bharti Airtel Ltd. -- owing a total of $13 billion in dues for spectrum and licenses -- must deposit the dues by March 17. Shares of Vodafone Idea plunged. In its October verdict, the top court upheld the way the government calculated fees using a formula disputed by the companies, and in January, it rejected their petition to reconsider the order. Read more

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