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Government weighs legal options in Vodafone tax arbitration case

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Government weighs legal options in Vodafone tax arbitration case

The government is weighing its legal options after losing the high-profile international tax arbitration case against Vodafone as it looks to limit damages not just in this matter but also in case of a separate lawsuit with Cairn Energy goes against it.

Last month, an international arbitration court ruled that the Indian government seeking ₹22,100 crore in taxes from telecom giant Vodafone using retrospective legislation was in “breach of the guarantee of fair and equitable treatment” guaranteed under the bilateral investment protection pact between India and the Netherlands.

Finance Ministry sources said the government will decide on challenging the award before a court in Singapore – which was the seat of the arbitration, after taking legal opinion.

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While the cost implication in the case is limited to having to pay ₹85 crore to Vodafone in legal cost, what is weighing on the government mind is a separate arbitration involving UK’s Cairn Energy plc.

If a separate arbitration panel were to hold a demand for ₹10,247 crore in taxes using the same retrospective legislation as illegal, the government will have to pay Cairn as much as USD 1.5 billion ( ₹11,000 crore).

This is the amount equivalent to the value of shares of Cairn that the government had sold to recover a part of the tax demand. It also includes the dividends and tax refund seized.

Sources said Vodafone International Holding (a Netherland company) had in February 2007 bought 100 per cent shares of Cayman Island-based company CGP Investments for USD 11.1 billion to indirectly get 67 per cent control of Hutchison Essar Ltd – an Indian company.

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Also Read : Corona Update : India’s Covid-19 Tally Crosses 65 Lakh-mark With Spike of Over 75,000 New Cases, 940 Deaths in 24 Hours

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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Laid stars Stephanie Hsu and Zosia Mamet reveal the worst gifts their romantic partners gave them | Exclusive

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Stephanie Hsu and Zosia Mamet talk about their new series Laid, and some of the horrors of dating as millennials.
Imagine a scenario where anyone and everyone you have ever been intimate with begins to die one by one. Is it a curse? If yes, then who is cursed? These are questions that Stephanie Hsu‘s Ruby battles with in the new zany comedy, Laid. Ahead of the show’s release, Stephanie and co-star Zosia Mamet spoke exclusively with HT about their roles, the show’s unique premise, and the horrors of dating as millennials. (Also read: Dune: Prophecy star Emily Watson on working with Tabu: ‘She is a true treasure’)

Stephanie Hsu on her character’s flawed morality

Laid, created by Nahnatchka Khan and Sally Bradford McKenna, is the story of Ruby (Stephanie Hsu), who discovers that all her sexual partners are dying one by one, and she must warn them. Helping her in this unique quest is her best friend AJ (Zosia). The fun thing about Laid is that the protagonists are not the usual likeable characters. “She is totally an anti-hero of our story. I really love that,” says Stephanie, referring to Ruby’s moral greyness. “I am not a perfect person and I love playing flawed characters. But it was difficult. The creators told me that she is a total narcissist. But narcissists don’t think they are one, so I had to figure out a way to love her. For me, playing Ruby was about getting into her psychology and finding the innocent part of her – which is that she just wants love,” the actor adds.

While sitcoms usually add the best friend as the voice of reason trope, Laid diverges from that, with AJ even zanier and more morally ambiguous than Ruby. Talking about playing such a colourful character, Zosia Mamet says, “When you play not-so-likable or zany characters, people don’t believe they are that way. I don’t think AJ wakes up every morning and thinks, ‘I am absolutely crazy’. It’s about trusting the writing and finding an organic way into these characters to make them seem grounded, real, and relatable.”

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Stephanie, Zosia reveal the worst gifts they received from partners

In Laid, Ruby gives the gift of death to the men she is with, even if that is inadvertent. Ask the women about the worst ‘gift’ a partner has ever given them, and the discussions veer into the unusual horrors of modern-day dating. “I got a vintage wooden duck decoy from someone. It was broken, and I thought, ‘What does this say about our relationship?’. They didn’t know me well enough to know if I’d want this but also that they gave me something old and ailing,” Zosia says with a laugh.

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