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The Supreme Court's recent dismissal of Vodafone Idea's curative petition regarding the computation of AGRs has raised significant concerns among banks.
The concern is whether banks should lend to the telco. Vi has been in talks with lenders for months as it seeks funding to step up the capital expenditure necessary to compete effectively with bigger rivals Reliance Jio and Airtel. Earlier this year the company had sought Rs 25,000 crore from banks in term loans and another Rs 10,000 crore in bank guarantees. As a pert of its business viability plan, VI was assuming a favourable order from the top court while making business projections.
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