Both firms have consequently red-flagged uncertainty over their ability to continue as going concerns, with VIL stating that it will be submitting a review petition on the apex court’s ruling on AGR.
The company said that the apex court ruling has 'significant financial implication on the company.'
Bharti Airtel had, last month, told the exchange that it has deferred the September quarter result announcement till November 14, due to the AGR issue.
Vodafone Group Plc’s Indian venture has $14 billion worth of obligations, while Bharti Airtel is rated junk by Moody’s Investors Service.
While, Bharti Airtel and Vodafone Idea both stand to shell out over Rs 40,000 crore each, rival Jio has a liability of just Rs 13-14 crore.
A physical copy of the insurance will be delivered to customer's doorstep on request.
Its shares fell over 3 per cent on Tuesday after the company deferred the September quarter result announcement till November 14, due to the adjusted gross revenue (AGR) issue.
Hope government takes 'balanced approach' on AGR issue to ensure sector's long-term viability: Airtel
The telcos are pitching for a waiver of interest and penalties on the unpaid amount, as well as staggering payment of principal licence fee over 10 years, sources said.
The Supreme Court has now ordered the companies to pay the government not just the dues but a hefty penalty - as well interest on both.
Telecom Service Providers have to cough up dues, penalty and interest worth Rs 92,640 crore within three months, and maybe even Rs 41,000 crore in additional SUC payments.
It was scheduled to announce earnings for July-September quarter on Tuesday but in a notice to the stock exchanges, it said the same is now being deferred till November 14.
The company was earlier scheduled to approve and release its Q2 numbers on Tuesday.
'The Sunil Mittal-led company said it is approaching the Department of Telecom (DoT) to seek clarity on the total amounts involved and "request for their support to deal with this adverse outcome.'
The two largest incumbents Bharti Airtel and Vodafone Idea now stand to shell out a whopping Rs 21,682 crore and Rs 28,308 crore respectively to the government.
Shares of Bharti Airtel were also in the red, although they did not suffer major losses on Friday and were trading at Rs 370.35, lower by Rs 2.10 or 0.56 per cent from their previous close.