Vodafone and Cairn may have taken advantage of tax loopholes by using tax havens like all multinationals, but applying a coercive instrument like retrospective tax only ends up in destroying companies and eroding investor confidence in the stability and predictability of a tax regime. The country has paid dearly for this blunder.
The Bancec guidelines deal with determining when a judgment against a foreign state is enforceable against its agencies.
In December 2018, CIHL purchased an economic interest in Anglo American through a structured investment by buying equity shares held by Volcan Investments for a total consideration of Rs 3,812 crore.
