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Reports indicate that a year long battle between Biyani and Bezos&nbsp;may be headed for a truce. ET reports that Amazon and Future group may resort to an out of court settlement&nbsp;over the proposed sale of Future Group assets to Reliance Retail.Quoting unnamed sources the business daily said that the possible talks between Future and Amazon could be on how to financially compensate Amazon for its minority stake in a promoter company of FRL, so one of the country's largest retail deals can finally go through.&nbsp;The arbitration ruling had blocked Reliace's Rs 24,000 cr buyout of Biyani's&nbsp;future retail assets.&nbsp;Reliance Retail has extended the time period to conclude the deal to acquire Future Retail as the buzz continues for a potential truce with Biyani&nbsp;and Amazon.&nbsp;

Corporate Buzz: Will Birla write a cheque to VI and will Bezos & Biyani to patch up?

Amazon and Future Retail may see an out of court settlement to end impasse on asset sale to Reliance. 

Bezos -Biyani to patch up? Will Future retail finally be sold

Companies facing&nbsp;year-long legal standoff over the proposed sale of Future Group assets to Reliance Retail

Reports indicate that a year long battle between Biyani and Bezos&nbsp;may be headed for a truce. ET reports that Amazon and Future group may resort to an out of court settlement&nbsp;over the proposed sale of Future Group assets to Reliance Retail.
Also read:&nbsp;<a href="https://www.editorji.com/business-news/mukesh-ambani-now-worth-over-100-billion-dollars-just-one-rank-below-warren-buffet-in-rich-list-1633754289255" target="_blank">Mukesh Ambani now worth over 100 billion dollars!</a> Quoting unnamed sources the business daily said that the possible talks between Future and Amazon could be on how to financially compensate Amazon for its minority stake in a promoter company of FRL, so one of the country's largest retail deals can finally go through.&nbsp; The arbitration ruling had blocked Reliace's Rs 24,000 cr buyout of Biyani's&nbsp;future retail assets.&nbsp;Reliance Retail has extended the time period to conclude the deal to acquire Future Retail as the buzz continues for a potential truce with Biyani&nbsp;and Amazon.&nbsp;

The ghost of retrospective tax resurrected by UPA&nbsp;II is finally being buried.&nbsp;&nbsp;The Lok&nbsp;Sabha&nbsp;approved the amendment to the Income Tax Act which means the the controversial retrospective tax law that led to row with Vodafone, Cairn Energy will be scrapped.
Finance Minister Nirmala Sitharaman introduced The Taxation Laws (Amendment) Bill in the Lok Sabha&nbsp;on Thursday.&nbsp;With this move, tax demands made on asset transfers prior to May 28, 2012 will be withdrawn.
"It is proposed to provide that the demand raised for indirect transfer of Indian assets made before 28th May, 2012 shall be nullified on fulfilment of specified conditions such as withdrawal or furnishing of undertaking for withdrawal of pending litigation and furnishing of an undertaking to the effect that no claim for cost, damages, interest, etc., shall be filed. It is also proposed to refund the amount paid in these cases without any interest thereon," the government stated.
This bill affects tax cases of at least two big companies Cairn Energy Plc and Vodafone Group of UK, both had won international arbitration cases against the tax levied on them.&nbsp;
The big question however many are asking are is this too late as after seven years, is the damage to India's international reputation been too severe?

Govt amends Income Tax Act, scraps retrospective tax law 

Govt amends Income Tax Act, scraps retrospective tax law. Is it a case of better late than never?

Retro tax  & Reputation: Better late than never?

Govt amends Income Tax Act, scrap&nbsp;retrospective tax law Govt to withdraw tax demand notice on Vodafone, Cairn Energy&nbsp; Retrospective tax law was introduced by UPA&nbsp;II government&nbsp; FM introduced&nbsp;The Taxation Laws (Amendment) Bill in Lok Sabha&nbsp; No Retro Tax Demand If Transaction Done Before May 28, 2021&nbsp; Govt to refund any retro tax collected from companies under provision Tax demand notice on Vodafone, Cairn to be withdrawn

Law amended, no retro tax demand for indirect transfer of Indian assets made before May 28, 2012

The ghost of retrospective tax resurrected by UPA&nbsp;II is finally being buried.&nbsp;&nbsp;The Lok&nbsp;Sabha&nbsp;approved the amendment to the Income Tax Act which means the the controversial retrospective tax law that led to row with Vodafone, Cairn Energy will be scrapped.
Finance Minister Nirmala Sitharaman introduced The Taxation Laws (Amendment) Bill in the Lok Sabha&nbsp;on Thursday.&nbsp;With this move, tax demands made on asset transfers prior to May 28, 2012 will be withdrawn.
"It is proposed to provide that the demand raised for indirect transfer of Indian assets made before 28th May, 2012 shall be nullified on fulfilment of specified conditions such as withdrawal or furnishing of undertaking for withdrawal of pending litigation and furnishing of an undertaking to the effect that no claim for cost, damages, interest, etc., shall be filed. It is also proposed to refund the amount paid in these cases without any interest thereon," the government stated.
This bill affects tax cases of at least two big companies Cairn Energy Plc and Vodafone Group of UK, both had won international arbitration cases against the tax levied on them.&nbsp;
The big question however many are asking are is this too late as after seven years, is the damage to India's international reputation been too severe?

The ghost of retrospective tax resurrected by UPA&nbsp;II is finally being buried.&nbsp;&nbsp;The&nbsp;Modi government on Thursday moved to amend the Income Tax Act following which the controversial retrospective tax law that led to row with Vodafone, Cairn Energy will be scrapped. Finance Minister Nirmala Sitharaman introduced The Taxation Laws (Amendment) Bill in the Lok Sabha&nbsp;on Thursday.&nbsp;With this move, tax demands made on asset transfers prior to May 28, 2012 will be withdrawn."It is proposed to provide that the demand raised for indirect transfer of Indian assets made before 28th May, 2012 shall be nullified on fulfilment of specified conditions such as withdrawal or furnishing of undertaking for withdrawal of pending litigation and furnishing of an undertaking to the effect that no claim for cost, damages, interest, etc., shall be filed. It is also proposed to refund the amount paid in these cases without any interest thereon," the government stated.This bill affects tax cases of at least two big companies Cairn Energy Plc and Vodafone Group of UK, both had won international arbitrations against the tax levied on them.&nbsp;

Govt to amend Income Tax Act, scrap retrospective tax law, will it mend fences with Vodafone?

Modi Govt buries retro tax introduced by UPA&nbsp;II; Lok Sabha&nbsp;amends bill to withdraw demands on Cairn, Vodafone
&nbsp;

Retro Relief | Tax demand on Cairn and Vodafone to be withdrawn

<ul>
<li>Govt amends Income Tax Act, scrap&nbsp;retrospective tax law</li>
<li>Govt to withdraw tax demand notice on Vodafone, Cairn Energy&nbsp;</li>
<li>Retrospective tax law was introduced by UPA&nbsp;II government&nbsp;</li>
<li>FM introduced&nbsp;The Taxation Laws (Amendment) Bill in Lok Sabha&nbsp;</li>
<li>No Retro Tax Demand If Transaction Done Before May 28, 2021&nbsp;</li>
<li>Govt to refund any retro tax collected from companies under provision</li>
<li>Tax demand notice on Vodafone, Cairn to be withdrawn</li>
</ul>

No retro tax demand for indirect transfer of Indian assets made before May 28, 2012, states the Bill proposed by govt.

The ghost of retrospective tax resurrected by UPA&nbsp;II is finally being buried.&nbsp;&nbsp;The Lok&nbsp;Sabha&nbsp;approved the amendment to the Income Tax Act which means the the controversial retrospective tax law that led to row with Vodafone, Cairn Energy will be scrapped. Finance Minister Nirmala Sitharaman introduced The Taxation Laws (Amendment) Bill in the Lok Sabha&nbsp;on Thursday.&nbsp;With this move, tax demands made on asset transfers prior to May 28, 2012 will be withdrawn. "It is proposed to provide that the demand raised for indirect transfer of Indian assets made before 28th May, 2012 shall be nullified on fulfilment of specified conditions such as withdrawal or furnishing of undertaking for withdrawal of pending litigation and furnishing of an undertaking to the effect that no claim for cost, damages, interest, etc., shall be filed. It is also proposed to refund the amount paid in these cases without any interest thereon," the government stated. This bill affects tax cases of at least two big companies Cairn Energy Plc and Vodafone Group of UK, both had won international arbitration cases against the tax levied on them.&nbsp; The big question however many are asking are is this too late as after seven years, is the damage to India's international reputation been too severe?

The telecom&nbsp;department&nbsp;may announce a relief package for the debt-ridden&nbsp;telecom&nbsp;sector by the end of this month, reports quoting government officials said.
This has come after Vodafone's&nbsp;promoter Kumar&nbsp;Birla's&nbsp;letter requesting&nbsp;government support came into the news. However, the report published in Economic Times mentioned that the government may not respond to the letter.
ALSO WATCH:&nbsp;Birla ready to hang up on Vodafone, Will the Govt pick up the call?
&ldquo;The telecom department is firming up a relief package to allow surrender of spectrum, reduce bank guarantees, phase out levies and prospectively define AGR to provide relief to the sector as well as Vodafone Idea,&rdquo; the report, quoting a government official, said.

Govt dials in for a reform package as Vodafone threatens to hang up

The telecom&nbsp;department&nbsp;may announce a relief package for the debt-ridden&nbsp;telecom&nbsp;sector by the end of this month, reports quoting government officials said.

The telecom department is firming up a relief package to allow surrender of spectrum, reduce bank guarantees, phase out levies and prospectively define AGR

The telecom&nbsp;department&nbsp;may announce a relief package for the debt-ridden&nbsp;telecom&nbsp;sector by the end of this month, reports quoting government officials said.
This has come after Vodafone's&nbsp;promoter Kumar&nbsp;Birla's&nbsp;letter requesting&nbsp;government support came into the news. However, the report published in Economic Times mentioned that the government may not respond to the letter.
ALSO WATCH:&nbsp;<a href="https://www.edtr.ai/a1vx" target="_blank">Birla ready to hang up on Vodafone, Will the Govt pick up the call?</a>
&ldquo;The telecom department is firming up a relief package to allow surrender of spectrum, reduce bank guarantees, phase out levies and prospectively define AGR to provide relief to the sector as well as Vodafone Idea,&rdquo; the report, quoting a government official, said.

The promoter of Vodafone&nbsp;Idea Ltd and Chairman of Aditya&nbsp;Birla&nbsp;Group, Kumar&nbsp;Mangalam&nbsp;Birla&nbsp;has offered to hand over his Rs 6,000-crore-worth&nbsp;stake in the telecom&nbsp;company to the government.
Birla, who owns over 27% stake in Voda&nbsp;Idea, is willing to hand over his stake in order to keep the telco&nbsp;afloat, as per a letter he wrote to Union Cabinet Secretary Rajiv Gauba&nbsp;on June 7.
&ldquo;It is with a sense of duty towards 27 crore&nbsp;Indians connected by VIL, I am more than willing to hand over my stake in the company to any entity-public sector/government/domestic financial entity or any other that the government may consider worthy of keeping the company as a going concern,&rdquo; Birla said in his letter.
This highlights a serious concern in the company as&nbsp;Birla offered to give up his control of the company more than a month before the Supreme Court dismissed the company's application for recalculation of the AGR dues.
VIL's debt has increased sharply in the last four years to Rs 1.6 lakh&nbsp;crore as of March 2021 end, from around Rs 37,000 crore in FY16.

Birla ready to hang up on Vodafone, Will the Govt pick up the call?

Kumar Mangalam Birla offers to hand over Vodafone Idea stake to government. Will the govt pick up this call?

Is Govt going to takeover Vodafone? Birla offers to give up stake 

Vodafone&nbsp;Idea's debt mounted to Rs 1.6 lakh&nbsp;crore&nbsp;from Rs 37,000 crore&nbsp;in the last four financial years.

The debt death knell seems to be calling Vodafone&nbsp;Idea.&nbsp;The promoter of Vodafone&nbsp;Idea and Chairman of Aditya&nbsp;Birla&nbsp;Group, Kumar&nbsp;Mangalam&nbsp;Birla&nbsp;has offered to hand over his Rs 6,000-crore-worth&nbsp;stake in the telecom&nbsp;company to the government.
Birla, who owns over 27% stake in Voda&nbsp;Idea, is willing to hand over his stake in order to keep the telco&nbsp;afloat, as per a letter he wrote to Union Cabinet Secretary Rajiv Gauba&nbsp;on June 7.&ldquo;It is with a sense of duty towards 27 crore&nbsp;Indians connected by VIL, I am more than willing to hand over my stake in the company to any entity-public sector/government/domestic financial entity or any other that the government may consider worthy of keeping the company as a going concern,&rdquo; Birla said in his letter.
This highlights a serious concern in the company as&nbsp;Birla offered to give up his control of the company more than a month before the Supreme Court dismissed the company's application for recalculation of the AGR dues.
VIL's debt has increased sharply in the last four years to Rs 1.6 lakh&nbsp;crore as of March 2021 end, from around Rs 37,000 crore in FY16.

In a big setback to telecom&nbsp;companies, the Supreme Court has dismissed&nbsp;telecom firms' plea seeking recomputation of the adjusted gross revenue (AGR) &ndash; related dues. The apex court stating there is no room for adjustment in the decade-long dispute.&nbsp;
Here is the hit on different telcos-:&nbsp;
Bharti Airtel
Total Demand - Rs 43980 crSelf Assessment&nbsp;- Rs 13004 crPaid -&nbsp; Rs 18004crVI&nbsp;
Total Demand - Rs 58254crSelf Assessment - Rs 21533 crPaid - Rs 7854cr.Tata Tele&nbsp;
Total Demand - 16798crSelf Assessment - 2197crPaid - 4197crThe biggest hit comes in for VI that is struggling for survival as is.&nbsp;Vodafone had said it is about to go under owing to dues of Rs 1.8 lakh crore, and sought correction of arithmetic errors.. Vodafone-Idea had argued that the only way to repay such a huge sum would be to &lsquo;earn and pay&rsquo; and sought more time.&nbsp;
&nbsp;

Massive setback for Bharti Airtel, VI and Tata Tele, SC dismisses plea to recompute AGR dues

Massive setback for Bharti Airtel, VI and Tata Tele, SC dismisses plea to recompute AGR dues. Will Vodafone need to shut down?

AGR dues setback for telcos

Total payment due fro 3 telcos&nbsp;tops Rs 1 lakh crore, VI operational sustainability in question as debt mounts.&nbsp;

In a big setback to telecom&nbsp;companies, the Supreme Court has dismissed&nbsp;telecom firms' plea seeking recomputation of the adjusted gross revenue (AGR) &ndash; related dues. The apex court stating there is no room for adjustment in the decade-long dispute.&nbsp;
Here is the hit on different telcos-:&nbsp;
Bharti Airtel
Total Demand - Rs 43980 cr Self Assessment&nbsp;- Rs 13004 cr Paid -&nbsp; Rs 18004cr VI&nbsp;
Total Demand - Rs 58254cr Self Assessment - Rs 21533 cr Paid - Rs 7854cr. Tata Tele&nbsp;
Total Demand - 16798cr Self Assessment - 2197cr Paid - 4197cr The biggest hit comes in for VI that is struggling for survival as is.&nbsp;Vodafone had said it is about to go under owing to dues of Rs 1.8 lakh crore, and sought correction of arithmetic errors.. Vodafone-Idea had argued that the only way to repay such a huge sum would be to &lsquo;earn and pay&rsquo; and sought more time.&nbsp;
&nbsp;

Reports indicate that Vodafone's Italian arm has received conditional approval to use equipment made by Huawei in its 5G radio access network.

Reports: Vodafone in Italy gets approval for using Huawei 5G equipment

Reports indicate that Vodafone's Italian arm has received conditional approval to use equipment made by Huawei in its 5G radio access network. Sources have claimed that a deal was authorised by the Italian government on May 20, between Vodafone and Huawei. It's worth noting that the reports come amid the US lobbying European countries to avoid using equipment from Chinese firms Huawei and ZTE, saying they could pose a security risk.

India on Thursday&nbsp;challenged&nbsp;the international arbitration court&rsquo;s ruling in favour of Vodafone in the&nbsp;₹22,000 crore&nbsp;retrospective tax case, according to news reports.
In November, the Centre had&nbsp;sought two weeks&rsquo; time to take a decision on whether to challenge the award.
The dispute arose when the Indian government amended the Finance Act in 2012, where the power to retrospectively tax any gain on transfer of share was introduced. Following the amendment, Vodafone was asked to pay a total of&nbsp;₹22,100 crore, in two tranches, in retrospective taxes on capital gains, including interest and penalty.

India Challenges Vodafone arbitration ruling in Singapore

India on Thursday&nbsp;challenged&nbsp;the international arbitration court&rsquo;s ruling in favour of Vodafone in the&nbsp;₹22,000 crore&nbsp;retrospective tax case, according to news reports. In November, the Centre had&nbsp;sought two weeks&rsquo; time to take a decision on whether to challenge the award.&nbsp; Vodafone was asked to pay a total of&nbsp;₹22,100 crore, in two tranches, in retrospective taxes on capital gains
&nbsp;

India on Thursday&nbsp;challenged&nbsp;the international arbitration court&rsquo;s ruling in favour of Vodafone in the&nbsp;₹22,000 crore&nbsp;retrospective tax case, according to news reports.
In November, the Centre had&nbsp;sought two weeks&rsquo; time to take a decision on whether to challenge the award.
The dispute arose when the Indian government amended the Finance Act in 2012, where the power to retrospectively tax any gain on transfer of share was introduced. Following the amendment, Vodafone was asked to pay a total of&nbsp;₹22,100 crore, in two tranches, in retrospective taxes on capital gains, including interest and penalty.

Vodafone wins international arbitration against India

Vodafone Group&nbsp;has won an international arbitration case against the Indian government in a ₹20,000 crore retrospective tax dispute, news agency Reuters reported.
An international arbitration tribunal in The Hague ruled that India&rsquo;s imposition of a tax liability on Vodafone, as well as interest and penalties, were in a breach of an investment treaty agreement between India and the Netherlands, said the report.
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.&nbsp; &nbsp;

added super**
Govt: will take decision on future course after considering all options
&nbsp;

Vodafone Group&nbsp;has won an international arbitration case against the Indian government in a ₹20,000 crore retrospective tax dispute, news agency Reuters reported.
An international arbitration tribunal in The Hague ruled that India&rsquo;s imposition of a tax liability on Vodafone, as well as interest and penalties, were in a breach of an investment treaty agreement between India and the Netherlands, said the report.
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.&nbsp;
After the verdict, the Finance Ministry has said, the govt will consider all options and take a decision on further course of action including legal remedies.&nbsp;

What Is AGR & What It Means For Vodafone & Airtel? | BOOM

The Supreme Court of India on Tuesday granted telecom companies a period of 10 years to clear their adjusted gross revenue (AGR) dues. This 10-year window would kickstart from April 1, 2021. In the 10-month interim till then, however, companies have to deposit 10% of the dues upfront.
How will this impact Vodafone Idea, Airtel and Tata Telecommunications? Watch this video to know.

vodafone

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