devas devastatio inukraine. there are ways you can help. again, that s cnn.com/impact you can follow me on facebook, instagram and twitter and the tiktok @jaketapper, we actually read them. if you miss our show, you can read them. our coverage continues with mr. wolf blitzer. see you tomorrow. happening now, breaking news, ukraine accuses of russia of genocide, blaming kremlin forces for the bombing of maternity and children hospitals that blasted two story deep. president zelenskyy says there are children under the wreckage of shattered walls and broken glass and burnt out cars. the attack takes into horror of a new level of wounded pregnant
Devas’ principal claim now is that India has unlawfully expropriated its investment through the liquidation of Devas and its takeover by the liquidator, which, in turn, has not allowed the enforcement of the ICC award, which is Devas’ largest asset.
India, on its part, can mount an argument of ‘illegality’ to challenge the jurisdiction of a BIT arbitration tribunal.
To fortify its case, India should also strive to expeditiously complete its ongoing criminal investigations into the matter to establish criminal culpability.
In sum, there are two key conclusions that one can draw from the Devas saga. First, the UPA government made a horrendous mistake of cancelling the contract without offering the correct reason. Second, the mistake of the NDA government was its botched-up litigation strategy. In both instances, it is India’s abysmal state capacity and capricious regulatory behaviour that stands exposed to the international community at large, writes Prabhash Ranjan.
The minister also denounced the UPA government for its failure to appoint an arbitrator to represent India’s point of view, leading to the current mess.