Government accepts Vodafone’s offer for out-of-court settlement; Union Cabinet to send non-binding conciliatory offer to Vodafone

The Union Cabinet has approved the initiation of “non-binding” conciliation proceedings with Telecom major Vodafone with respect to a long standing dispute over tax claims. This move, coming more than a year after the Supreme Court held that Vodafone was not liable for payment of taxes on the Vodafone-Essar transaction, may just lead to a final resolution.