Airtel, Vodafone Idea and other telecom operators may have to pay the government a whopping Rs 1.42 lakh crore in three months.
Supreme Court in its October 24 order has clearly settled the base on which statutory levies have to be paid, said Reliance Jio.
BSE, NSE had sought clarification from Vodafone Idea over the rumours of the telecom operator exiting the Indian market.
Shares of Vodafone Idea slumped 8.66 per cent to Rs 3.48 apiece - its 52-week low - on the BSE.
Indian government has created a panel to work out a financial bailout package that may include lowering of spectrum charges.
The company was earlier scheduled to approve and release its Q2 numbers on Tuesday.
Vodafone Idea plummeted 23.36 pc to close at Rs 4.33 on the BSE. In intra-day, it tanked 27.43 pc to Rs 4.10 -- its 52-week low.
Kumar Mangalam Birla, head of Vodafone Idea, had sent an SOS to the government earlier also for deferring statutory payments.
The scrip which opened with nearly 3 per cent decline later saw relentless selling and tanked 28.4 per cent to Rs 6.60,
The company had registered a loss of Rs 4,881.9 crore in the fourt quarter of 2018-19, Vodafone Idea Ltd said.