Top headlines: Vodafone wins case against govt, Harley in talks with Hero

Topics Vodafone | Centre | Harley-Davidson

The tax dispute stems from Vodafone’s acquisition of the Indian mobile assets from Hutchison Whampoa in 2007.
Vodafone wins arbitration case against govt in $2 bn tax dispute case

Vodafone Group Plc has won an international arbitration case against the Indian government in a $2 billion tax dispute, two sources with direct knowledge of the matter said. An international arbitration tribunal in The Hague ruled that India’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, one of the sources said. Read More...

Harley in talks with Hero for distribution deal after exiting India: Report

Harley-Davidson Inc is in advanced talks with India's Hero MotoCorp for a distribution deal which will allow the U.S. firm's iconic motorcycles to be sold in India, after it stops local manufacturing there, three sources told Reuters. The Milwaukee-based company said on Thursday it will stop sales and shut its manufacturing plant in India, effectively abandoning the world's biggest motorcycle market after a decade of unsuccessful efforts to gain a foothold. Read More...

Bihar assembly elections to take place in 3 phases, results on November 10

Bihar will hold assembly elections on October 28, November 3 and 7 as it takes unprecedented measures to protect voters in the coronavirus pandemic. Results will be declared on November 10. “Covid doesn't show any sign of going down. Some way had to be found to choose representatives and protect the health of people. Life has to go on,” said Chief Election Commissioner Sunil Arora at a press conference in Delhi on Friday. Read More...

Farm bills 2020: Protests by farmers disrupts life in Punjab, Haryana

Cutting across party lines, the day-long statewide protests by farmers evoked a good response in Punjab and Haryana as normal life was disrupted, but in Chandigarh it was almost normal. Rail traffic across Punjab was badly hit as farmers, farm labourers, commission agents and activists of political parties squatted on railway lines. There was no report of any untoward incident from anywhere in the states. Read More...

Irdai says LIC, GIC Re, New India are too big to fail, need more control

The Insurance Regulatory and Development Authority of India (Irdai) has identified state-owned behemoth Life Insurance Corporation (LIC), the counntry's largest re-insurer General Insurance Corporation (GIC Re), and the largest public sector general insurer New India Assurance as domestic systemically important insurers for the year 2020-21. These insurers will now be brought under additional regulatory measures to deal with the systemic risks and moral hazard issues. Read More...

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