Likely to seek FIPB approval to raise holding; deal could bring FDI of about $696 mn.
After Vodafone, UK-based Vedanta Resources Plc and Aditya Birla group firm Indian Rayon also face a potential tax demand of around Rs 900 crore and Rs 45 crore, respectively, for their failure to deduct taxes on payments to buy Indian assets, said a senior government official.
McLaren Mercedes launched its new car for the 2010 season on Friday. The MP4-25 will be driven by Lewis Hamilton and Jenson Button, the reigning world champion having joined the British squad from Brawn GP, with which he won the title last year.
The group firms reported combined losses of Rs 6,134 crore in FY19 against a net profit of Rs 5,414 crore a year ago. Excluding Vodafone Idea, the group reported a net profit of Rs 8,470 crore, down from a profit of Rs 9,582 crore a year ago.
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