Delhi HC junks arbitral award directing Antrix to pay $560 million to Devas

Justice Sanjeev Sachdeva on Monday said the arbitral award of September 14, 2015 was plagued with patent illegalities and fraud and was also in conflict with the public policy of India

In a huge win for the Centre, the Delhi High Court on Monday set aside an arbitral award passed by the International Chamber of Commerce asking Antrix Corporation Limited to pay damages of over US$ 560 million with interest to Devas Multimedia Private Limited.

Antrix Corporation Limited is the commercial arm of Indian Space Research Organisation (ISRO). 

The arbitral award was passed in 2015 directing Antrix to pay the sum for illegally terminating its satellite deal with Devas Multimedia. The US courts had also upheld the award. 

Antrix then moved the Delhi High Court seeking to set aside the arbitral award. 

Justice Sanjeev Sachdeva