Vodafone says no plan to exit India
Vodafone said the government’s move to retrospectively amend income tax laws does not augur well for investors but asserted that it has no plan to exit India.
“As a practising businessman in India, this will not augur well for FDI and the country at large,” Vodafone India’s non-executive chairman Analjit Singh said. Meanwhile, the group received a . 2,500-crore ($500 million) deposit from the government the same day the Supreme Court rejected a $2.2-billion tax claim against the world’s biggest mobile-phone operator.
The payment, which had been withheld by the government ahead of the court’s ruling, was paid within four hours of the decision on Tuesday, chief financial officer Andy Halford said in an interview in London oNow, a Software to Make Chess Cheat-proof