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The Economic Times Saikat Das & Kalyan Parbat 23.10.2020 Mumbai | Kolkata:  Vodafone Idea  (Vi) has got an initial proposal for up to $2 billion (₹15,000 crore) line of credit from a consortium led by US investment firm Oak Hill Advisors, bankers and  industry  executives aware of the matter said. Sixth Street, Twin Point Capital and Varde Partners are among other global investors in the consortium that has given a non-binding term sheet to Vi, they said. The proposed funding model will likely be a blend of bonds and warrants that will give the consortium members an option to convert part of the loan to shares of the company at a later stage, they said. The loss-making telco owned by UK’s Vodafone Group and India’s AV Birla Group needs funds urgently to bolster its 4G network, arrest a steady loss of customers to rivals and pay arrears to the government. Negotiations are on to finalise the terms, an executive with knowledge of the matter told ET. The consortium i...

 mint Sep 25, 2020 J.Jagannath UK telecom major Vodafone Group Plc on Friday won an international arbitration against India over retrospective tax demand of  ₹ 20,000 crore. The Permanent Court of Arbitration in The Hague ruled that conduct of Income Tax Department is in breach of 'fair and equitable' treatment. Vodafone was represented at The Hague by DMD Advocates. The tribunal ruled that the Indian government's imposition of a tax liability on Vodafone is in breach of the investment treaty agreement between India and the Netherlands, Reuters reported while quoting a source. The tribunal, in its ruling, said the government must cease seeking the dues from Vodafone and should also pay 4.3 million pounds ($5.47 million) to the company as partial compensation for its legal costs, the source said. Spurred by the news, on Friday  Vodafone Idea's  scrip on BSE closed 12% higher at  ₹ 10.20. The tax dispute stems from Vodafone's acquisition of the Indian mobile asset...

The Indian Express Dated: June 12, 2020 By: Aashish Aryan, Ananthakrishnan G The Supreme Court Thursday said the demand by the Department of Telecommunications for dues to the tune of Rs 3 lakh crore in adjusted gross revenue (AGR) from non-telecom public sector undertakings was “wholly impermissible” and asked the DoT to withdraw it. Thursday’s order, which will provide a major relief to GAIL India Ltd, Oil India Ltd, PowerGrid, RailTel and Delhi Metro Rail Corporation, comes almost eight months after the October 24, 2019, Supreme Court judgment. “Outright misuse of our verdict…This is wholly and totally impermissible,” Justice Arun Mishra observed as a bench comprising him, Justices S Abdul Nazeer and M R Shah, was hearing a government plea to allow private operators pay their AGR dues in a staggered manner over 20 years. The order is significant since the Rs 3 lakh crore demand from non-telecom PSUs accounts for almost 65 per cent of the total Rs 4.7 lakh crore ...