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Supreme court ruling that Tiger Global share sale evaded taxes spooks investors

Last week, India’s top court ruled that Tiger Global’s $1.6 billion sale of its stake in ecommerce company Flipkart, made to Walmart through the former’s Mauritius-based subsidiaries in 2018, would not benefit from tax exemptions under an India-Mauritius tax treaty. © Getty Images
SOUMYAJIT SAHA
January 23, 2026 18:46 JST
MUMBAI — After India’s top court last week ruled that investor Tiger Global’s use of Mauritius-based entities in a 2018 share sale constituted a tax evasion move, investors in the country’s burgeoning startup ecosystem are awaiting further clarity on what has been the largest route for foreign funds into India.
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