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India s appeal against Vodafone arbitration award in senior court, hearing in Sept
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India s appeal against Vodafone arbitration award in senior court, hearing in Sept
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Investment Arbitration and India: 2020 Year in Review Thursday, February 25, 2021
For the Indian foreign direct investment landscape, 2020 was a mixed bag of equity inflows, policy changes, arbitration awards and innovative dispute resolution strategies. In September 2020, FDI equity inflows in India crossed the USD 500 billion milestone, computed over a period of 20 years starting from April 2000.
1 While global FDI witnessed a steep decline of 42%, India noted a 13% increase in FDI inflows.
2 India’s tightened scrutiny of FDI from her neighbours and FDI in e-commerce invited intense discussion.
However, the culmination of key long-standing arbitration proceedings initiated by foreign investors against India under international investment treaties invited global attention, especially in the final quarter of 2020. These disputes were initiated by foreign investors to challenge measures adopted by the Indian government and State entities that adversely impacted foreig
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Two sources privy to the development said India had 90 days to file an appeal against the tribunal award, and the same was done in a Singapore court earlier this week.
India has challenged in a Singapore court a verdict of an international arbitration tribunal that overturned its demand for Rs 22,100 crore in back taxes from Vodafone Group Plc, sources said on Thursday.
An international arbitration court had on September 25 rejected tax authorities demand for Rs 22,100 crore in back taxes and penalties relating to the British telecom giant s 2007 acquisition of an Indian operator.
Two sources privy to the development said India had 90 days to file an appeal against the tribunal award, and the same was done in a Singapore court earlier this week.
India challenges Vodafone arbitration ruling in Singapore court
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