Tiger Global ‘Flipkart tax’ seen reshaping M&A activity at India Inc.
Over decades, foreign investors have poured $180 billion into India via the tax haven of Mauritius. Now, an Indian court ruling is spooking investors as it could potentially reshape the M&A and investment landscape by strengthening New Delhi’s hand against tax evasion.
On Thursday, the Supreme Court ruled against Tiger Global Management Llc in a landmark case, saying its $1.6 billion stake sale in India’s Flipkart to Walmart Inc. in 2018 should be taxed.
