A public interest petition has asked the Supreme Court to cancel telecom licences granted to Vodafone International and to order a CBI inquiry against it for violation of laws, including the Foreign Exchange Management Act.The petition, filed by a lawyer, is likely to be heard next week. It is alleged that Vodafone manipulated the share-holding pattern with the help of its Indian partners
to comply with the restrictions imposed on foreign direct investments.
In the company's writ petition before the Bombay High Court, it allegedly concealed facts about the period of acquisition and showed the deal as a pure transaction between two foreign companies.
