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Supreme Court Allows Vodafone to Initiate Second Arbitration Over $2 Billion Tax Demand

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.

Reuters

Updated:December 14, 2017, 3:11 PM IST
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Supreme Court Allows Vodafone to Initiate Second Arbitration Over $2 Billion Tax Demand
(Representative image)
Mumbai: The 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.

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