Vodafone-Idea on the verge of bankruptcy

Vodafone Idea is now on the verge of filing for bankruptcy & winding up the business. The news comes after Supreme Court pulled up Vodafone Idea for failing to clear the dues.

Vodafone-Idea owes INR 40K Cr+ to DoT in dues related to adjusted gross revenue. SC had given a deadline of January 23, 2020, however Vodafone-Idea had not met the deadline

In response to the decision of SC, chairman of Aditya Birla Group Kumar Mangalam Birla had said that if the government doesn’t provide any relief to the company then it will be left with no option but to “shut shop”.

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