Region: 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

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

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 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 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

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

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

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

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

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