Vodafone Group called the situation "critical" after the unit was saddled with about $3.9 billion in fresh payments due. Bharti Airtel, which must pay roughly $3 billion under the ruling, has also flagged distress, saying the decision casts much doubt on "its ability to continue as a going concern."
Industry executives and analysts feel that telecom operators will sink without significant government financial support, though finance Minister Nirmala Sitharaman also said this month that relief is under consideration although no final call had been made.
Vodafone-Idea reported a net loss of Rs 50,921.9 crore in Q2 September 2019, while Airtel reported Rs. 23045 crore loss for the same quarter.