 "HC allows Vodafone to take part in second arbitration in tax case")
The Delhi High Court on Thursday allowed Vodafone Group representatives to participate in the process of appointing a presiding arbitrator in its international arbitration process against India in connection with a tax demand of Rs 11,000 crore.
Justice Manmohan had on August 22 restrained Vodafone from participating in the arbitration initiated under the India-United Kingdom Bilateral Investment Protection Agreement (BIPA) in connection with the tax demand raised against the company in relation to its $11-billion deal acquiring the stake of Hutchinson Telecom.
This was the company’s second arbitration against India on the same issue.
The court gave the Centre time till November 17 to indicate whether it was amenable to rescheduling of these proceedings after a final decision is given in the first arbitration.
The court said it was not in favour of stalling the process as both sides had already appointed an arbitrator each in the second arbitration.
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