A day after a letter by Vodafone Idea Ltd Chairman Kumar Mangalam Birla written to Cabinet Secretary Rajiv Gauba in June was made public, the company lost over Rs 2,700 crore in market cap. The company has been struggling to clear AGR dues of more than Rs 50,000 crore. VIL owes Rs 50,399.63 crore in AGR; it has already paid Rs 7,854.37 crore. After Tuesday’s crash remaining dues are more than double the existing market cap of Rs 21,264 crore. In this episode of the Editorial our Managing Editor Mr Sujit Nair shares his take on the matter.
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