[Antrix-Devas deal] Delhi High Court sets aside arbitral award directing Antrix to pay US$ 562 million, interest to Devas

Justice Sanjeev Sachdeva held that the award dated September 14, 2015 suffered from patent illegalities and fraud while being in conflict with the public policy of India.
Delhi High Court
Delhi High Court

The Delhi High Court on Monday set aside an arbitral award passed by the International Chamber of Commerce which had directed Antrix Corporation Limited (commercial arm of ISRO) to pay damages of over US$ 560 million along with interest to Devas Multimedia Private Limited [Antrix Corporation Ltd v Devas Multimedia Private Limited].

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