Friday, January 20, 2012

Vodafone wins $2.2 billion tax battle in SC

The Supreme Court ruled in favour of Vodafone Group in its fight against a $2.2 billion tax bill, a decision analysts said would encourage foreign investment and clear the way for the company's planned initial public offering in India.

India's reputation as an investment destination has taken a hit over the past year as the economy slowed, government reforms stalled and corruption scandals - notably in the telecoms industry - heightened concerns about government policies.

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