Antrix v Devas: Supreme Court upholds setting aside of ICC order that directed Antrix to pay $560 million

The Court refused to interfere with a Delhi High Court order which set aside the arbitral award in favour of Devas.
Supreme Court of India
Supreme Court of India

Putting quietus to litigation that lasted almost a decade, the Supreme Court recently refused to uphold an arbitral award of the International Chamber of Commerce (ICC) that had directed Antrix Corporation Limited to pay damages of over US$ 560 million with interest to Devas Multimedia Private Limited (Devas Employees Fund US LLC v. Antrix Corporation Limited and ors)

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