Vodafone Arbitration Case

The draft rules say the Centre will not proceed with demands related to retrospective tax levy, provided that all companies withdraw cases against it

Finance Minister Nirmala Sitharaman said rules that will facilitate scrapping of retrospective tax demands will be framed soon.

Cairn in March 2015 filed a formal dispute against a demand for more than $1.6 billion from the Indian tax department that dates back to the 2007 listing of its then Indian operation

The Centre urged the high court to sine die adjourn its appeal against the single judge's verdict permitting consolidation of two international arbitrations initiated by the company against India.

The government will challenge an international arbitration decision favouring the Vodafone Group on a retrospective tax demand of Rs 20,000 crore, sources say.

An international arbitration tribunal in The Hague ruled that government's imposition of a tax liability on Vodafone.

The tribunal, in its ruling, said the government must cease seeking the dues from Vodafone and should also pay 4.3 million pounds to the company.

Telecom giant Vodafone on Friday won a significant ruling against the Indian government in an international court over Rs 20,000 crore in dues which it had described as unfair.

India is entangled in more than 20 such overseas arbitration cases - the most against any country - brought by companies including Vodafone, Deutsche Telekom and Nissan Motor Co for disputes over retrospective tax claims and breach of contracts.

An international arbitration tribunal in February will begin trial on Vodafone's challenge to India seeking Rs 22,100 crore in taxes.

This was the company's second arbitration against India over its $11 billion deal acquiring the stake of Hutchinson Telecom.

British telecom giant Vodafone is believed to have moved the Hague-based International Court of Justice (ICJ) seeking appointment of a judge to preside over arbitration in its Rs 14,200-crore tax case.

Amid controversy over a tax reminder notice worth Rs 14,200 crore to Vodafone for an issue under arbitration, Telecom Minister Ravi Shankar Prasad on Monday said the government was trying to resolve the issue.

The government on Friday said it is open to an out-of-court settlement with Vodafone and Cairn on tax cases, where the arbitration process has been initiated.

The government has appointed international lawyer Rodrigo Oreamuno to arbitrate on its behalf in a tax case worth Rs 20,000 crore with British telecom major Vodafone.

The draft rules say the Centre will not proceed with demands related to retrospective tax levy, provided that all companies withdraw cases against it

Finance Minister Nirmala Sitharaman said rules that will facilitate scrapping of retrospective tax demands will be framed soon.

Cairn in March 2015 filed a formal dispute against a demand for more than $1.6 billion from the Indian tax department that dates back to the 2007 listing of its then Indian operation

The Centre urged the high court to sine die adjourn its appeal against the single judge's verdict permitting consolidation of two international arbitrations initiated by the company against India.

The government will challenge an international arbitration decision favouring the Vodafone Group on a retrospective tax demand of Rs 20,000 crore, sources say.

An international arbitration tribunal in The Hague ruled that government's imposition of a tax liability on Vodafone.

The tribunal, in its ruling, said the government must cease seeking the dues from Vodafone and should also pay 4.3 million pounds to the company.

Telecom giant Vodafone on Friday won a significant ruling against the Indian government in an international court over Rs 20,000 crore in dues which it had described as unfair.

India is entangled in more than 20 such overseas arbitration cases - the most against any country - brought by companies including Vodafone, Deutsche Telekom and Nissan Motor Co for disputes over retrospective tax claims and breach of contracts.

An international arbitration tribunal in February will begin trial on Vodafone's challenge to India seeking Rs 22,100 crore in taxes.

This was the company's second arbitration against India over its $11 billion deal acquiring the stake of Hutchinson Telecom.

British telecom giant Vodafone is believed to have moved the Hague-based International Court of Justice (ICJ) seeking appointment of a judge to preside over arbitration in its Rs 14,200-crore tax case.

Amid controversy over a tax reminder notice worth Rs 14,200 crore to Vodafone for an issue under arbitration, Telecom Minister Ravi Shankar Prasad on Monday said the government was trying to resolve the issue.

The government on Friday said it is open to an out-of-court settlement with Vodafone and Cairn on tax cases, where the arbitration process has been initiated.

The government has appointed international lawyer Rodrigo Oreamuno to arbitrate on its behalf in a tax case worth Rs 20,000 crore with British telecom major Vodafone.