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Devas Investors Win Round In $1.3B Award Fight With India
Law360 (July 12, 2021, 10:12 PM EDT) A London judge has concluded that there is obvious merit in allowing investors in Devas Multimedia Pvt. Ltd. to join ongoing efforts to enforce a $1.3 billion arbitral award that was issued to the Indian satellite company, pointing to actions taken by India to allegedly stymie those efforts.
Judge David Waksman of the High Court of Justice concluded on Friday that the application by CC/Devas (Mauritius) Ltd. and other Devas shareholders, along with subsidiary Devas Multimedia America Inc., to serve their application to join the enforcement proceedings was well-founded, pointing to arguments that India has undertaken a worldwide effort to make.
Antrix case: Devas moves US court to enforce The Hague arbitration award
January 15, 2021
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Devas Multimedia has filed a petition at a US district court seeking to enforce the damages awarded against ISRO’s commercial arm Antrix Corp by the Permanent Court of Arbitration Tribunal at The Hague.
The petition, filed by three investment firms related to Devas, argues that the award can be enforced in the US because India is a signatory to the New York Convention.
“By entering into the New York Convention, India waived any immunity it may otherwise possess in relation to an action to enforce an award in this jurisdiction,” states the petition filed by three Mauritius-incorporated companies CC/Devas (Mauritius) Ltd, Devas Employees Mauritius Private Ltd, and Telcom Devas Mauritius Ltd.