Vodafone Idea shares fall 6%

Vodafone Idea shares fall 6%

Shares of Vodafone Idea fell almost 6 percent in morning trade on BSE on December 24 after media reports said India had challenged the international arbitration court’s ruling in favour of Vodafone Plc in the retrospective tax case.

Mint reported that India on December 24 challenged the international arbitration court’s ruling in favor of Vodafone Plc in the retrospective tax case.

On September 24, the Hague-based Permanent Court of Arbitration (PCA) ruled in Vodafone's favor in the arbitration case against the income tax (IT) department's retrospective demand of Rs 22,100 crore.

Prime Minister Narendra Modi recently reviewed the matter at an inter-ministerial group (IMG) meeting, CNBC-TV18 reported on December 3.

The law and justice ministry was in favor of appealing the decision at a Singapore court, the report