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

Vodafone Idea shares crashed 12.2% to their intraday low of Rs 6.47 on the BSE on Monday after the debt-laden telecom operator’s plea to waive over $5 billion in interest and penalties on statutory dues was rejected by the Supreme Court today.The plea was earlier rejected by the Department of Telecommunications (DoT), challenging which, Vodafone Idea approached the Supreme Court regarding a resolution for the same.According to Reuters, the Department of Telecommunications (DoT) on April 29 rejected a plea from Vodafone Idea CEO Akshaya Moondra seeking relief on interest and penalties arising from a $9.76 billion dues demand. “The request cannot be considered,” the communications ministry wrote, despite Moondra warning that the survival of India’s third-largest telecom company was a

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