India's Vodafone Idea had its petition to waive more than $5 billion in debt it owes the government rejected by the country's top court on Monday, dealing a hammer blow to the country's third-largest telecom company.

Vodafone Idea’s plea for adjusted gross revenue dues relief was turned down by the Supreme Court, maintaining the court’s previous judgment on the company’s AGR liabilities.

Vodafone Idea shares lost over 12% during the intraday market session on 19 May 2025, after the Supreme Court rejected a ₹30,000 crore AGR dues waiver plea. The stock closed nearly 9 per cent lower after Monday's trading session.