Special CBI Judge O P Saini adjourned Monday's proceedings in the wake of stay granted by the Supreme Court on separate pleas filed by Mittal and Ruia challenging the March 19 order of the trial court summoning them as accused in the case.
Special CBI Judge O P Saini adjourned today's proceedings after advocate Siddharth Agarwal, appearing for Mittal, said the Supreme Court is scheduled to hear in March the separate pleas filed by Mittal and Ruia challenging the March 19, 2013 order of the trial court summoning them as accused in the case.
The letter was written on February 20, two weeks after the Cabinet Committee of Economic Affairs had approved the 100 per cent ownership proposal of Vodafone Plc in Vodafone India, at a proposed investment of Rs 10,141 crore (Rs 101.41 billion).
Piraml will sell of its entire 11 per cent stake in Vodafone india.
Cut-throat competition, high spectrum costs, and frequent flip-flops in government policies have made it difficult for Vodafone to make money in the country.
Essar Global Fund, the Ruia company that invested $1.3 billion in telecommunications, towers and business process outsourcing over the years, made $6.5 billion, a five-fold return, when it flipped these businesses, according to discussions the group has had with merchant bankers.
India's fifth largest software services firm Tech Mahindra will acquire global network services firm Lightbridge Communications Corporation (LCC) in an all-cash deal worth $240 million (over Rs 1,486 crore).
Country accounts for 38% of telco's global user base, 10% of total revenue
CBDT circular issued last month had raised multiple taxation concerns.
A consummate deal-maker, the former Aircel boss raked in the moolah in many, but lost a packet in several others.
The retrospective tax decision reversing the January 2012 Supreme Court verdict in the Vodafone case has often been cited as the reason for foreign investors losing confidence in India as an investment destination.
A look at the life and times of maverick businessman Chinnakannan Sivasankaran
