JSW seeks Volkswagen cover for $1.4 billion India tax liability in proposed JV
JSW Group is negotiating a joint venture with Volkswagen AG, seeking to have the automaker cover a $1.4 billion tax liability in India. This tax issue arises from allegations of misclassification of vehicle assembly kits by Volkswagen between 2012 and 2024. The outcome of these negotiations will significantly impact the valuation and capital contributions of both companies.