Decision will end India’s dispute with Vodafone Plc and Cairn Energy Plc, and in 15 other similar cases. FM Sitharaman notes that the retrospective tax became a ‘sore point’ with investors.
Merging state-run telcos with a nationalised Vodafone Idea could save jobs & precious capital. Managed professionally, it could become a credible third player.
A two-judge panel headed by L. Nageswara Rao Friday dismissed the petitions by Vodafone Idea and Bharti Airtel Ltd Friday, without without giving reasons.
Cairn Energy has been moving aggressively to push the Modi govt to comply with the $1.7 billion arbitration award that it won in December 2020 in the retrospective taxation case.
The appeal against a tribunal at the Permanent Court of Arbitration invalidating India's Rs 10,247 crore tax claim comes weeks before UK PM Boris Johnson's visit to India.
P.C. Mody says govt has already appealed international tribunal order in Vodafone retrospective tax case, and will soon decide whether to appeal Cairn verdict too.
In episode 647 of #CutTheClutter, Shekhar Gupta says India must stop digging the hole and rethink its decision to appeal the rulings against retrospective tax.
In a letter to TRAI, Jio alleged the rival companies are claiming that migrating to their networks would be an act of support to the farmers' protests.
After the transaction, Bharti Infratel will own 36.7% of Indus Towers, Vodafone 28.1%, with the rest held by investors including KKR & Co. and Canada Pension Plan Investment Board.
Despite growing passenger volume, 11 out of 14 carriers reported losses in 2023-24. IndiGo recorded profit of Rs 8,167 crore, which reduced to Rs 7.253 crore in 2024-25.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
None of Pakistan’s PMs has lasted 5 years. That the current PM has given Asim Munir 5 years shows that of all military dictatorships history has seen, Pakistan’s is most creative.
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