Vodafone goes to Indian court

Vodafone is in court this week, trying to convince the Mumbai High Court that it doesn't owe the Indian tax authorities around £1 billion following its takeover last year of Hutchison Essar. The deal, which involved UK-based Vodafone (technically through a Dutch business owned by Vodafone) and Hong Kong-based Hutchison (via a Cayman Islands company) didn't involve any Indian companies - but the Indian government says it's a transaction that involves assets in India and therefore should be subject to India's tax laws. [Source: Independent.co.uk]