Following a Cabinet meeting on 28 January 2015, Minister of Communications and Information Technology Ravi Shankar Prasad announced that the government will not appeal the 10 October 2014 High Court ruling in favor of Vodafone India involving a transfer pricing dispute. According to Prasad, it is hoped that the decision will help to boost foreign investors’ sentiment.
The case involved a 2008 issuance of shares at a premium by Vodafone India Services Pvt. Ltd. to its Mauritius-based holding …