India has challenged an international arbitration tribunal’s verdict that overturned its demand for SGD 4.03 billion (INR 22,100 crore) in back taxes from Vodafone Group Plc in the Singapore High Court, the Indian Parliament was informed.
An international arbitration court had in September last year rejected tax authorities’ demand for back taxes and penalties relating to British telecom giant Vodafone’s 2007 acquisition of an Indian operator.
The demand pertained to Vodafone’s USD 11-billion acquisition of 67% stake in the mobile phone business owned by Hutchison Whampoa.
The international arbitration tribunal had then also ruled that the Indian government must reimburse GBP 4.3 million to Vodafone Group for costs incurred on legal representation and assistance as well as for fees paid by the company to the arbitration court.
