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The tribunal reasoned that India’s decision to retroactively apply the law, without a specific justification, created a new tax burden on a transaction that was not taxable at the time it was carried out, ie. in 2006(Shutterstock)

India’s retrospective taxation blunder is still extracting heavy costs

By Prabhash Ranjan
UPDATED ON JAN 07, 2021 07:20 AM IST
In endeavouring to extract revenue through retroactive taxation that damages investor sentiment in the long run, India is being penny-wise and pound-foolish
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The plan includes its recent partnership with edtech firms upGrad, Udemy and Pedagogy, and health and wellness companies such as Mfine, Cure.fit and 1mg.(MInt)
The plan includes its recent partnership with edtech firms upGrad, Udemy and Pedagogy, and health and wellness companies such as Mfine, Cure.fit and 1mg.(MInt)

Vodafone Idea banks on IoT, SMEs to aid biz

By Ishita Guha | Livemint,
UPDATED ON DEC 28, 2020 06:43 AM IST
Vi has “aggressive plans” to strengthen its enterprise business by tapping small and medium enterprises (SMEs), which is a fairly large market.
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A man speaks on his mobile phone as he walks past logos of Vodafone painted on a roadside wall in Kolkata.(REUTERS)
A man speaks on his mobile phone as he walks past logos of Vodafone painted on a roadside wall in Kolkata.(REUTERS)

Govt challenges Vodafone ruling in Singapore court

By Livemint | Livemint, New Delhi
UPDATED ON DEC 25, 2020 05:21 AM IST
Vodafone in September had won the case against India, ending one of the most high-profile disputes in the country that had caused concern among investors over retrospective tax claims on companies.
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Cairn India employees work at a storage facility for crude oil at Mangala oil field at Barmer in the desert Indian state of Rajasthan.(Reuters)
Cairn India employees work at a storage facility for crude oil at Mangala oil field at Barmer in the desert Indian state of Rajasthan.(Reuters)

Cairn wins $1.2 billion award in damages in tax row with Centre

By Gireesh Chandra Prasad | Livemint, New Delhi
UPDATED ON DEC 24, 2020 05:24 AM IST
Cairn approached the tribunal after India’s 2015 tax demand of $2.74 billion over the group’s reorganisation in 2006, resulting in the creation of Cairn India Ltd.
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Spectrum in the 3300-3600MHz bands, recommended by the telecom regulator for fifth-generation (5G) networks, have not been included in the proposed auction.(Priyanka Parashar/ HT File Photo)
Spectrum in the 3300-3600MHz bands, recommended by the telecom regulator for fifth-generation (5G) networks, have not been included in the proposed auction.(Priyanka Parashar/ HT File Photo)

Spectrum for 4G to be auctioned off in March

By Ishita Guha | Mint, New Delhi
UPDATED ON DEC 17, 2020 12:45 AM IST
Govt to auction Rs3.9 lakh crore worth of airwaves across seven spectrum bands
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VIL, with its “long term” commitment and strong track record of investments, is prepared to address the opportunities, CEO Ravinder Takkar noted.(File photo)
VIL, with its “long term” commitment and strong track record of investments, is prepared to address the opportunities, CEO Ravinder Takkar noted.(File photo)

Govt support, progressive policies to drive success story: VIL CEO

By Press Trust of India | Posted by Nilavro Ghosh | New Delhi
PUBLISHED ON DEC 08, 2020 02:59 PM IST
Vodafone Idea CEO Ravinder Takkar also said that aspects like India-specific 5G use cases, and ensuring digital connectivity for those at the bottom of pyramid, or those without access to broadband or smartphones offered a distinct scope for telcos.
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A hotel employee clears a table after Vodafone Group and Idea Cellular news conference in Mumbai.(REUTERS)
A hotel employee clears a table after Vodafone Group and Idea Cellular news conference in Mumbai.(REUTERS)

Govt to review Vodafone tax row outcome

By Gireesh Chandra Prasad | Livemint, New Delhi
UPDATED ON OCT 14, 2020 06:14 AM IST
Reducing tax litigation is a policy priority for the Narendra Modi administration but the dispute with Vodafone Group Plc on its $11 billion offshore deal acquiring Hutchison Essar Ltd—later renamed Vodafone India Ltd—has implications beyond the legality of retrospective taxes.
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While the cost implication in the case is limited to having to pay Rs 85 crore to Vodafone in legal cost, what is weighing on the government mind is a separate arbitration involving UK’s Cairn Energy plc.(PTI photo)
While the cost implication in the case is limited to having to pay Rs 85 crore to Vodafone in legal cost, what is weighing on the government mind is a separate arbitration involving UK’s Cairn Energy plc.(PTI photo)

Govt weighs legal options in Vodafone tax arbitration case

By Press Trust of India | Posted by Prashasti Singh | New Delhi
PUBLISHED ON OCT 04, 2020 09:14 PM IST
Finance Ministry sources said the government will decide on challenging the award before a court in Singapore - which was the seat of the arbitration, after taking legal opinion.
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Cairn India employees work at a storage facility for crude oil at Mangala oil field at Barmer, Rajasthan.(Sonu Mehta/HT File Photo)
Cairn India employees work at a storage facility for crude oil at Mangala oil field at Barmer, Rajasthan.(Sonu Mehta/HT File Photo)

Cairn seeks $ 1.4 billion damages from govt

By Kalpana Pathak | Mint, Mumbai
UPDATED ON SEP 30, 2020 01:25 AM IST
The Cairn Energy case is the second most high-profile retrospective tax litigation. Last week, an arbitration court in the Hague ruled that India’s Rs 22,000-crore demand from Vodafone Group Plc violated the bilateral investment treaty (BIT) between India and the Netherlands.
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Vodafone store.(PTI)
Vodafone store.(PTI)

News updates from Hindustan Times: Will take appropriate action, says Finance Ministry on Vodafone tribunal setback and all the latest news

By hindustantimes.com | Hindustan Times, New Delhi
UPDATED ON SEP 26, 2020 08:56 AM IST
Here are today’s top news, analysis and opinion. Know all about the latest news and other news updates from Hindustan Times.
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Shares of the telco’s Indian unit Vodafone Idea Ltd surged 13.6% after the arbitration court ruling.(PTI File Photo)
Shares of the telco’s Indian unit Vodafone Idea Ltd surged 13.6% after the arbitration court ruling.(PTI File Photo)

Rs 20,000 crore retro tax: International court rules for Vodafone

By Ishita Guha and Jayshree P Upadhyay | Mint, New Delhi/Mumbai
PUBLISHED ON SEP 26, 2020 02:13 AM IST
The tax dispute cast a shadow over Vodafone Group’s operations in India’s intensely competitive telecom market, where it had to write off billions of dollars worth of investments.
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An international arbitration tribunal on September 25 ruled in favour of Vodafone(Reuters)
An international arbitration tribunal on September 25 ruled in favour of Vodafone(Reuters)

Will take appropriate action, says Finance Ministry on Vodafone tribunal setback

By Rajeev Jayaswal | Hindustan Times, New Delhi
UPDATED ON SEP 26, 2020 08:13 AM IST
The government will obtain legal opinion on the tribunal order and explore the possibility of filing an application before the appropriate court in Singapore, the seat of the arbitration
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A man wearing a protective face mask talks on his mobile and waits with others outside a branch of Vodafone.(Reuters)
A man wearing a protective face mask talks on his mobile and waits with others outside a branch of Vodafone.(Reuters)

Government to study Vodafone arbitration case award

By Reuters | Posted by Shivani Kumar | Bengaluru
UPDATED ON SEP 25, 2020 08:08 PM IST
An international arbitration tribunal in The Hague ruled that India’s imposition of a tax liability on Vodafone, as well as interest and penalties, were in a breach of an investment treaty agreement between India and the Netherlands.
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The Vodafone logo can be seen on top of a building outside Madrid, Spain.(REUTERS)
The Vodafone logo can be seen on top of a building outside Madrid, Spain.(REUTERS)

Vodafone scores a victory in $3 billion tax dispute with India

By Bloomberg | Posted by Arpan Rai
UPDATED ON SEP 25, 2020 07:11 PM IST
An international arbitration tribunal ruled Friday that India’s efforts to claim 200 billion rupees ($2.7 billion) in past taxes were in breach of fair treatment under the bilateral investment protection pact between the south Asian nation and the Netherlands.
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In April 2014, Vodafone initiated arbitration proceedings against India.(REUTERS)
In April 2014, Vodafone initiated arbitration proceedings against India.(REUTERS)

Vodafone wins international arbitration against India in $2 Billion tax case: Report

By Reuters | Posted by Arpan Rai | New Delhi
UPDATED ON SEP 25, 2020 05:10 PM IST
The tribunal, in its ruling, said the government must cease seeking the dues from Vodafone and should also pay 4.3 million pounds ($5.47 million) to the company as partial compensation for its legal costs, the source said.
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Vodafone Idea will initially raise hybrid debt through convertible bonds, two people aware of the matter said.(Reuters)
Vodafone Idea will initially raise hybrid debt through convertible bonds, two people aware of the matter said.(Reuters)

Vodafone Idea rebrands self as ‘Vi’ in fresh start

By Ishita Guha and Anirudh Laskar | Livemint/ New Delhi/Mumbai
UPDATED ON SEP 08, 2020 06:56 AM IST
The rebranding comes at a time the company looks to raise up to 25,000 crore to meet government dues, pay interest, and invest in operations.
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Vodafone Idea fell as much as 9.9% in early trading in Mumbai on Friday amid a global stock rout. The stock rose as much as 30% on Thursday in its biggest gain since March.(REUTERS)
Vodafone Idea fell as much as 9.9% in early trading in Mumbai on Friday amid a global stock rout. The stock rose as much as 30% on Thursday in its biggest gain since March.(REUTERS)

Vodafone’s India unit plans $1.5 billion fundraising: Report

By Bloomberg| Posted by Susmita Pakrasi | Hindustan Times, New Delhi
PUBLISHED ON SEP 04, 2020 10:15 AM IST
Vodafone Idea Ltd. is discussing a funding plan that could include a share sale, according to the people, who asked not to be identified because the information is private.
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The court, however, did not mention the order reserved on the staggered payment of dues by Vodafone Idea Ltd, Bharti Airtel Ltd and Tata Teleservices.(Amal KS/HT PHOTO)
The court, however, did not mention the order reserved on the staggered payment of dues by Vodafone Idea Ltd, Bharti Airtel Ltd and Tata Teleservices.(Amal KS/HT PHOTO)

Chart plan to recover AGR dues: Supreme Court

By Ishita Guha and Japnam Bindra | Hindustan Times, New Delhi
UPDATED ON AUG 11, 2020 04:52 AM IST
While observing that recovery of dues may not be possible from telcos undergoing insolvency, the apex court asked the government whether spectrum can be sold under the Insolvency and Bankruptcy Code (IBC). The case has been adjourned to August 14.
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Vodafone Idea’s subscriber base declined to 279.8 million users in the reported quarter, from 291.1 million users in the fourth quarter.(REUTERS File)
Vodafone Idea’s subscriber base declined to 279.8 million users in the reported quarter, from 291.1 million users in the fourth quarter.(REUTERS File)

Vodafone reports Rs 25,460 cr Q1 loss as Covid-19 pandemic hits business

By Reuters | Posted by Anubha Rohatgi | Bengaluru
UPDATED ON AUG 06, 2020 06:03 PM IST
Vodafone Idea, India’s third largest telecom operator by subscribers reported its eighth consecutive quarterly loss of 254.6 billion rupees, compared with a loss of 48.74 billion rupees a year earlier.
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The Supreme Court move comes as a big relief for cash-strapped Vodafone, which is struggling to pay its adjusted gross revenue (AGR) related dues.(PRADEEP GAUR/MINT)
The Supreme Court move comes as a big relief for cash-strapped Vodafone, which is struggling to pay its adjusted gross revenue (AGR) related dues.(PRADEEP GAUR/MINT)

SC tells govt to refund Rs 833 crore to Vodafone Idea

By Japnam Bindra and Ishita Guha | Hindustan Times, New Delhi
UPDATED ON JUL 23, 2020 12:04 AM IST
A division bench of justices UU Lalit and Vineet Saran rejected a special leave petition filed by the tax department against a recent Bombay high court order, which had asked the department to refund the amount to Vodafone Idea.
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Telecom companies, already hit by intense competition that is hurting their earnings, are also facing increased financial stress due to AGR dues.(Reuters)
Telecom companies, already hit by intense competition that is hurting their earnings, are also facing increased financial stress due to AGR dues.(Reuters)

Vodafone Idea shares tank nearly 10%

By Press Trust of India | Posted by Shivani Kumar | Press Trust of India
UPDATED ON JUL 21, 2020 02:00 PM IST
The stock tanked 8.84 per cent to Rs 8.24 on the BSE. On the NSE, it plunged 9.89 per cent to Rs 8.20.
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Vodafone Idea had approached the tribunal after the telecom regulator put on hold its plan offering better quality services for customers in higher tariff brackets.(Mint Archive)
Vodafone Idea had approached the tribunal after the telecom regulator put on hold its plan offering better quality services for customers in higher tariff brackets.(Mint Archive)

TDSAT grants interim relief to Vodafone Idea

By Ishita Guha | Livemint, New Delhi
UPDATED ON JUL 18, 2020 06:30 AM IST
The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) allowed the Telecom Regulatory Authority of India to continue investigating if the telco violated service norms, observing it is not necessary to put the plan on hold while the probe was on.
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Customers buying Reliance Jio sims at a Reliance Digital centre in Mumbai .Photo by(Aniruddha Chowdhury/Mint File Photo)
Customers buying Reliance Jio sims at a Reliance Digital centre in Mumbai .Photo by(Aniruddha Chowdhury/Mint File Photo)

RIL’s telecom unit wants to be party in tariffs case

By Ishita Guha | Mint, New Delhi
UPDATED ON JUL 14, 2020 11:44 PM IST
It has emerged that Trai’s order barring both Vodafone Idea and Bharti Airtel from offering differentiated products in 4G postpaid plans was passed following a complaint filed by Jio on July 8.
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The repayment was part of the ₹3,500 crore NCDs sold by Vodafone Idea
The repayment was part of the ₹3,500 crore NCDs sold by Vodafone Idea

Voda Idea clears dues of Franklin, six others

By Jayshree P Upadhyay | Hindustan Times, Mumbai, Mumbai
UPDATED ON JUL 10, 2020 11:33 PM IST
The payments came as a major relief to Franklin Templeton and the 300,000 investors in the six funds that were wound up on April 23 because of exposure to low-quality debt.
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A man casts a silhouette onto an electronic screen displaying a Vodafone logo, in Mumbai.(REUTERS)
A man casts a silhouette onto an electronic screen displaying a Vodafone logo, in Mumbai.(REUTERS)

Bombay HC asks I-T dept to refund Rs 833 crore to Vodafone Idea within two weeks

By Kanchan Chaudhari | Hindustan Times, Mumbai
UPDATED ON JUL 01, 2020 07:37 PM IST
Earlier, Vodafone Idea had filed a petition seeking a direction to the I-T department to refund Rs 1009.43 crore, including Rs 833 crore on an immediate basis as the undisputed amount, while citing the tax authorities’ rectification order issued on May 28.
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Until a few years ago, we could never imagine a consumer’s relationship with their smartphone! But, today, most people are hungry for mobile data and stream video content on their handsets.(Pexels)
Until a few years ago, we could never imagine a consumer’s relationship with their smartphone! But, today, most people are hungry for mobile data and stream video content on their handsets.(Pexels)

Here’s how complimentary offers are helping to increase customer lifecycle for the top telco players

By Promotional Feature, HT Brand Studio
UPDATED ON JUN 13, 2020 09:42 PM IST
The partnership between OTT players and telco companies is for keeps. A recent study shows how carrier-bundled OTT media services not only make users spend more on their mobile and home broadband bills, but also be more loyal towards the carriers.
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All telcos had extended the validity of prepaid plans by about two months till end-May as users struggled to recharge phones during the lockdown.(Getty Images/Representative image)
All telcos had extended the validity of prepaid plans by about two months till end-May as users struggled to recharge phones during the lockdown.(Getty Images/Representative image)

Lockdown data traffic may boost telcos’ revenues

By Team Mint | Mint, New Delhi/Mumbai
PUBLISHED ON JUN 11, 2020 07:32 AM IST
The massive shift to remote working during coronavirus lockdown has driven up data traffic even as the migration of working population to smaller towns has led to a change in distribution of this traffic.
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Vodafone Plc and Aditya Birla Group own 44.39% and 27.18% stake, respectively, in Vodafone Idea, and have valued their stake in the company at zero.(Mint Archives)
Vodafone Plc and Aditya Birla Group own 44.39% and 27.18% stake, respectively, in Vodafone Idea, and have valued their stake in the company at zero.(Mint Archives)

Vodafone Idea share price jumps over 31% after report of Google eyeing stake

By hindustantimes.com | Edited by Meenakshi Ray | Hindustan Times, New Delhi
UPDATED ON MAY 29, 2020 01:05 PM IST
A deal with Google could be a lifeline for Vodafone Idea, which owes as much as Rs 54,000 crore in adjusted gross revenue (AGR) dues to the government.
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Core earnings reached 14.9 billion euros ($16.1 billion) in the year ended March 31, with group revenue up 3% to 45.0 billion euros, driven by business in Europe.(REUTERS)
Core earnings reached 14.9 billion euros ($16.1 billion) in the year ended March 31, with group revenue up 3% to 45.0 billion euros, driven by business in Europe.(REUTERS)

Vodafone keeps dividend as pandemic hits roaming, but boosts data

By Reuters | London
PUBLISHED ON MAY 12, 2020 02:41 PM IST
The British company said a drop in international travel due to the virus pandemic had hit its revenues from roaming calls and that it expected customer spending to suffer from the economic downturn caused by the health crisis.
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A man wearing a protective face mask talks on his mobile and waits with others outside a branch of Vodafone.(REUTERS)
A man wearing a protective face mask talks on his mobile and waits with others outside a branch of Vodafone.(REUTERS)

Vodafone-Idea to get tax refund of Rs 733 cr on SC order, not Rs 4,759 cr

By Murali Krishnan | Hindustan Times, New Delhi
UPDATED ON APR 29, 2020 11:44 PM IST
Vodafone had argued that the IT Department had to process the ITR within one year and since the tax department missed this deadline, it could claim the refund.
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