Supreme Court halts execution of US court's $1.2 bn order against ISRO's Antrix

Devas had filed a case against Antrix for damages it suffered owing to the cancellation of the agreement to use two satellites (GSAT-6 and GSAT-6A) for high-speed beaming of video content on mobile devices in 2011.
Supreme Court halts execution of US court's $1.2 bn order against ISRO's Antrix
Supreme Court

A Chief Justice of India (CJI) led bench of the Supreme Court has kept in abeyance a 2015 arbitral award by which Indian Space Research Organisation’s (ISRO) commercial arm, Antrix Corporation was ordered to pay compensation of about US $1.2 billion to a Bengaluru-based startup, Devas Multimedia Private Limited (Devas Multimedia Pvt Ltd vs Antrix Corporation Ltd).

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