Permanent Court of Arbitration rules against Indian government in the Vodafone tax case (Read DECISION)

The Permanent Court of Arbitration (PCA) at The Hague has ruled in favour of Vodafone with respect to the Indian government's retrospective tax claim of approximately USD 5.5 billion together with penalty and interest (Approximately Rupees 40,000 Crores in today's conversion rates) stemming from the company's acquisition of the Indian assets of Hutch back in 2007.