SC Charged 1per cent Commission from Vodafone Essar

The Supreme Court of India  asked Vodafone Essar to deposit Rs 2500 crore before the court heard its appeal against a Bombay High Court order validating nearly $2 billion capital gains tax on the $11-billion acquisition of Hutch. The SC had said that the government could withdraw the deposited money but if Vodafone won its appeal then the government would have to return the money along with interest. However, when the Indian government went to withdraw the money the court asked it to pay up 1 per cent of the total amount which was Rs 25 crore.

The apex court will charge 1% commission in similar corporate cases with the help of which the court will not only manage funds for its yearly budget of less than Rs 90 crore, but also generate extra funds for expansion of infrastructure.