WITH the
Vodafone International BV going back to the Apex Court on the issue of
deposit of Rs 2500 Cr in the Rs 11000 Crore case, the Supreme Court today
allowed the assessee to deposit the money through banking wire transfer
facility in place of bank draft.
Keeping
in mind the high transaction costs involved in making bank draft of such
a gigantic sum of Rs 2500 Cr, the assessee's counsel pleaded before the
Bench of Chief Justice of India, Justice S H Kapadia, that they may be
allowed to bring the funds through international transactions to RBI and
then transfer the same directly to the Supreme Court Registry.
While
allowing the assessee's plea the Supreme Court has also postponed the hearing
in the case from February 5 to July 19, 2011.
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