Region: India

Award creditors threaten new treaty claim against India

Shareholders in Devas Multimedia have threatened India with a new investment treaty claim over its alleged efforts to thwart enforcement of ICC and UNCITRAL awards worth a combined US$1.4 billion.

07 May 2021

India facing new retroactive tax claim

Japanese conglomerate Mitsui & Co has filed an investment treaty claim against India over a US$324 million retroactive tax bill – months after the state suffered two high-profile losses over similar demands.

30 April 2021

Indian parties can choose foreign seat, rules Supreme Court

The Indian Supreme Court has held that two domestic parties are entitled to choose a foreign seat of arbitration and any award from those proceedings would be enforceable in the country’s courts.

22 April 2021

Deutsche Telekom takes India award to US

Deutsche Telekom has applied to a US court to enforce an investment treaty award worth more than US$135 million against India, revealing that the state “essentially prevailed” during the quantum phase of the case.

20 April 2021

India challenges Cairn’s billion-dollar tax award

India has reportedly applied to a Dutch court to set aside an investment treaty award requiring it to pay US$1.2 billion plus interest to Scotland’s Cairn Energy in compensation for a retroactive tax demand.

24 March 2021

Does India recognise emergency awards?

On the same day the Delhi High Court enforced a SIAC emergency arbitrator’s order restraining Amazon’s Indian business partner from proceeding with a US$3.4 billion asset sale, a panel at GAR Interactive India discussed the value of emergency relief in the jurisdiction.

24 March 2021

UK appeal court revives fraud suit over Wirecard deal

The Court of Appeal in London has held that a fraud suit relating to the €250 million sale of an Indian payments business to Germany’s Wirecard has sufficient connection to England to proceed, while reserving a decision on whether the claims belong in arbitration.

04 March 2021

US court bars settlement of Indian satellite dispute

A US court has temporarily blocked Bangalore-based Devas Multimedia from settling a dispute over a US$562 million ICC award against Indian state-owned satellite company Antrix – amid allegations of a “government hijacking” after a liquidator took control of Devas, accused it of fraud and fired its counsel.

02 March 2021

Indian and Indonesian projects spawn SIAC claims

The Singapore International Arbitration Centre is hearing two unrelated disputes worth a combined US$1.1 billion over energy and mining projects in India and Indonesia, it has emerged.

25 February 2021

UK miner threatens treaty claim against India

A UK mining company says it has instructed external counsel for a potential investment treaty claim against India over the refusal of local authorities to renew a prospecting licence for a gold project.

18 February 2021

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