Over the past two decades, subscribers of the network have seen their SIM cards go from orange to pink to red and white and their brand ambassador change from a cuddly pug to a Zoozoo.
The Cabinet, however, has left a window open now by not withdrawing Vodafone conciliation talks for settling the Rs 20,000 crore tax dispute until a separate case over transfer pricing is settled by a tribunal.
IT services major Tech Mahindra today said it has signed an agreement to acquire the IT and consultancy services business of chemical giant BASF in a bid to strengthen its presence in Western Europe.
British telecom major Vodafone had acquired Honk Kong-based Hutchison Whampoa‘s stake in Indian telecom major, Hutchison Essar (famously known as Hutch) in 2007. The Rs 11,200 crore tax liability issue is based on this acquisition.
The telecom major said it has always maintained that it would like to increase its holding in the business and the plan of further investment demonstrates Vodafone's long-term commitment to India.
Anglo-Dutch oil major Royal Dutch Shell Plc said its Indian unit has been in talks with local authorities over a tax dispute, making it the latest global company to have a run-in with tax officials in the country.
Finance minister P Chidambaram today expressed confidence that the government will find a resolution to the Vodafone tax issue. He told reporters after meeting global investors here that the issue figured only peripherally and came up as a question.
The Revenue Department has sent a reminder notice to British telecom major Vodafone to pay taxes, estimated at around Rs 11,200 crore, for its acquisition of Hutchison's stake in 2007.
Sources close to Vodafone have told CNBC-TV18 that the company may decide to hasten its international arbitration process.
In an exclusive interview to CNBC-TV18, Analjit Singh, chairman of Vodafone India says that despite the legal tussles, Vodafine remains committed to India. “There is no question of pulling out of India,” he says.
This BMR Alert summarizes the hearings on Day 13 in the Vodafone matter before the Supreme Court.
The Supreme Court is likely to start the final hearing on the high profile Rs 11,000 crore tax dispute between telecom major Vodafone and the I-T Department tomorrow.
Terming the USD 2.6 billion tax liability on the company as "inequitable", UK-based Vodafone today questioned the Indian authorities for not raising the tax claim on the party (Hutchison) which made profit by selling its stake.
According to the latest updates, the income tax department has said that it will not oppose Vodafone’s plea at the Supreme Court, reports CNBC-TV18's Aakansha Sethi quoting sources.