Antrix-Devas deal – arbitration tribunal rules against India
The Permanent Court of Arbitration (PCA) tribunal at Hague has ruled against the Indian Government for annulling the contract between Antrix Corporation Ltd. and Devas Multimedia and denying Devas the commercial use of S-band spectrum. The tribunal ruled that Indian Government had acted ‘unfairly’ and ‘inequitably’ in annulling the contract making it liable to pay financial compensation.
The PCA follows arbitration rules of the United Nations Commission on International Trade Law (UNCITRAL).
Read more at http://thewire.in/53993/india-loses-big-in-abritration-case-over-antrix-devas-controversy/
- TEAM IICCG