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India to plea against verdict in Antrix-Devas case

Devas has conveyed to Antrix recently that it had moved courts in Britain and France

Policy Pulse
Publish Date: Aug 31 2016 10:05AM | Updated Date: Aug 31 2016 10:05AM

India to plea against verdict in Antrix-Devas case

 India is likely to appeal against any verdict to shield itself from damages in the legal battle its space agency's arm Antrix Corporation is locked in with satellitecompany Devas Multimedia Services Ltd, a report said.

 
Speaking to reporters n Bengaluru, Antrix Chairman and Managing Director Rakesh Sasibhushan said, "The matter is sub judice. We will appeal against all judgements in any court.”.
 
Devas has conveyed to Antrix recently that it had moved courts in Britain and France to recover Rs.4,512 crore award it had won from an International Commercial Court in the form of the latter's assets and revenue.
 
Latest award comes after Antrix losing an arbitration case for the second time in the Permanent Court of Arbitration tribunal at Hague on July 25 for cancelling, in early 2012, the $300-million satellite contract it signed with Devas in 2005 and refuting it access to use S-band spectrum for commercial usage.
 
However, Devas, declined to share details on the latest award.
 
Citing security reasons, Indian Space Research Organisation (ISRO) cancelled the contract after the government decided that the scarce S-band spectrum should be limited to strategic use and not for commercial procedures.