Peak of Erudition

Vodafone has been directed by the Indian High Court yesterday to pay the disputed 2 billion dollars worth of tax on their purchase of the controlling stake in Hutchison India operations few years back. This is indeed expected to boost the sagging Indian tax flows, but will be badly impacting future foreign investment flows into India, experts aver.
Vodafone officials said that they are likely to apply for appeal with the Supreme court of India soon to get the High court order reversed. This may be a time consuming and also a costly affair for Vodafone. Tough times for Vodafone.