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  1. SC allows Vodafone to initiate second arbitration over $2 billion tax demand

SC allows Vodafone to initiate second arbitration over $2 billion tax demand

Supreme Court on Thursday allowed Britain's Vodafone to initiate a second arbitration process under an India-UK investment pact over New Delhi's tax demand for more than $2 billion arising out of a deal that was struck a decade ago.

By: | Updated: December 14, 2017 3:47 PM
vodafone, supreme court, Britain, world second largest mobile operator, India, netherlands, Hutchison Whampoa, UK, new delhi Vodafone, the world’s second-largest mobile operator, entered India in 2007 by acquiring Hutchison Whampoa’s wireless assets. (Reuters)

Supreme Court on Thursday allowed Britain’s Vodafone to initiate a second arbitration process under an India-UK investment pact over New Delhi’s tax demand for more than $2 billion arising out of a deal that was struck a decade ago. Vodafone, the world’s second-largest mobile operator, entered India in 2007 by acquiring Hutchison Whampoa’s wireless assets. It is contesting a tax bill of more than $2 billion relating to that acquisition. Separately, Vodafone has already initiated an arbitration process under India’s investment pact with the Netherlands.

(More details are awaited. )

 

 

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