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India challenges Vodafone arbitration ruling in Singapore court

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India challenges Vodafone arbitration ruling in Singapore court

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India has filed an appeal in Singapore on December 21 challenging Vodafone arbitration award, sources informed CNBC-TV18.

India has filed an appeal in Singapore on December 21 challenging Vodafone arbitration award, sources informed CNBC-TV18.
“This time the government is very clear that they would not want to lose this appeal. They are contesting the fact that India has a right to tax and no one can take this sovereign right from India. This will definitely have an impact on the Cairn tax issue,” sources said.
In a recent setback, Cairn Energy won an international arbitration case against the government over a tax dispute.
Cairn took the case to arbitration in 2015 to fight against demand in 2014 from the Indian tax department for Rs 102 billion (USD 1.4 billion) in taxes it said were owed on capital gains related to the 2007 listing of its Indian unit.
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