Vodafone suffers Indian setback
Tuesday 16 November 2010
India's top court has ordered Vodafone to deposit 25m rupees (£344m) within three weeks over a £1.5bn tax dispute. The British telecoms giant has also been told to make bank guarantees worth 85bn rupees within eight weeks.
The company appealed to the Supreme Court in Delhi after a lower court ruled that Indian tax authorities had jurisdiction in cross-border deals. Vodafone is fighting a tax bill in India related to its 2007 acquisition of Hutchison Whampoa's Indian operations.
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