Nothing like that is happening. Govt. is working on the options.
DoT is just calculating but nothing like that would happen. It will be a major and massive crisis among the International Community if India forces Vodafone to shut shop.
I don't think Modi Govt. can afford any such crisis after Jet Airways in their time. No matter which Govt. is responsible, economy is going down the hill and it will be second major bankruptcy where Govt. didn't give enough room.
Where, BSNL/MTNL is being given endless and never ending cash reserve access.
++++++
Air India: Been in loss for so many years. Still being run.
Jet Airways: Govt. Silent.
BSNL/MTNL: Been in loss for man years.
Vodafone: If can't cancel AGR, must give some room and ease. If not, Govt. Silent.
Regardless of any Party, Govt. has been hypocrite when it comes to Public vs. Private.