Vodafone Concept Share Value: Vodafone Group has obtained one other spherical of aid in India after the Earnings Tax Division withdrew its long-pending tax demand of round Rs 8,500 crore in opposition to Vodafone India Providers. The dispute, which dated again to FY08, was linked to the sale of the corporate’s Ahmedabad-based name centre enterprise.
Based on sources, the tax authority determined to retract the order after the Commissioner of Earnings Tax resolved the case by means of a proper petition. This marks a second main win for Vodafone Group inside weeks — following the Supreme Courtroom’s extension of cost timelines within the AGR case — providing the telecom big much-needed respiration area.
The problem originated when Vodafone India, in FY08, bought its name centre operations (then often called 3 International Providers Pvt. Ltd) to Hutchison Whampoa Properties. The Earnings Tax Division alleged that the deal concerned an undisclosed worldwide transaction and subsequently demanded Rs 8,500 crore in taxes.
In 2015, the Bombay Excessive Courtroom dominated in Vodafone’s favour, terming the transaction home in nature. Nonetheless, the tax division appealed the decision within the Supreme Courtroom in 2016, the place the case had been pending with none progress till now. The current withdrawal successfully ends a decade-long authorized battle.
Vi Refutes $6 Billion Funding Reviews
In a parallel improvement, Vodafone Concept Restricted (Vi) formally denied reviews suggesting that the US-based non-public fairness agency Tillman International Holdings (TGH) was planning to speculate USD 6 billion within the firm. A number of media shops on November 4 had claimed that TGH was in superior talks to amass a controlling stake in Vi, which is grappling with excessive debt ranges.
The rumours sparked a pointy market response, driving Vodafone Concept’s fill up by practically 14 per cent and taking it previous the Rs 10 mark — its highest intraday soar since April 2024.
Based on the alleged reviews, Tillman International Holdings, a New York–based mostly funding agency, was exploring a USD 4–6 billion deal that might grant it operational management of Vi. The Aditya Birla Group and Vodafone UK, current promoters of the corporate, have been mentioned to be contemplating ceding administration rights, whereas the Indian authorities, which holds round 49 per cent stake, was anticipated to stay a passive shareholder.
Vi, nevertheless, categorically dismissed these claims as “speculative and baseless,” clarifying that there have been no such negotiations underway.
