Devas’ investors push for amicable settlement of row
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On 6 May, Devas’ investors wrote to the government, including the home ministry, offering to settle the row mutually. Mint
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Three Mauritius-based entities embroiled in a lengthy legal battle with state-run Antrix Corp. Ltd, the commercial arm of the Indian Space Research Organisation (Isro), and the Indian government over a cancelled satellite leasing contract have offered to settle the dispute amicably.
Devas (Mauritius) Ltd, Telcom Devas Mauritius Ltd and Devas Employees Mauritius Pvt. Ltd are seeking to enforce an international arbitration award they had won in 2015. The $562.5 million award in damages is worth $1.3 billion, including interest as of November, according to the US District Court for the Western District of Washington that confirmed the award.
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.
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Satellite Co. Investors Seek OK Of $111M Award Against India
Law360 (January 13, 2021, 6:45 PM EST) A trio of Mauritius-based investors in an Indian satellite company has brought a $111 million arbitral award it won against India following a dispute over a nixed deal to deliver communications services throughout the country to Washington, D.C., for enforcement.
Investors CC/Devas (Mauritius) Ltd., Devas Employees Mauritius Private Ltd. and Telcom Devas Mauritius Ltd. urged the D.C. federal court in a Wednesday petition to allow them to begin targeting India s assets to collect the award, issued last October, which totals more than $121 million with interest and attorney fees.