Lawstreet Journal

Supreme Court Stays International Award Asking ISRO Arm Antrix to Pay Compensation to Devas [READ ORDER]

Lawstreet Journal 8 Nov 2020 1:37am

Image courtesy: Lawstreet Journal Judiciary Supreme Court Stays International Award Asking ISRO Arm Antrix to Pay Compensation to Devas [READ ORDER]

The Supreme Court on Wednesday (November 5,2020) stayed execution of the international arbitration award that asked Antrix Corporation, the commercial arm of Indian Space Research Organization, to pay compensation of $1.2 billion to Bengaluru-based startup Devas Multimedia for cancelling a satellite deal in 2005.

A bench headed by Chief Justice S A Bobde and comprising Justices L Nageswara Rao and Indu Malhotra stayed the execution of the international award which was passed last week by the US court.

Devas Multimedia had filed a case against Antrix for damages it suffered owing to the cancellation of the agreement to use two satellites (GSAT-6 and GSAT-6A) for high-speed beaming of video content on mobile devices on the S-band spectrum in February 2011.

The two companies had entered into an agreement in 2005. Devas was promoted by a few former employees of ISRO. 

The then UPA government cancelled the controversial contract in February 2011, invoking sovereignty and decided to use the advanced satellites (GSAT-6 and GSAT-6A) for the country’s strategic use.

After 2011, Devas moved various legal avenues in India, including the Supreme Court, which directed for a tribunal.

While the international arbitral tribunal had passed the award in September 2015, the order to execute it was delivered by a US court last week.

As per the agreement in January 2005, Antrix had agreed to build, launch and operate two satellites and to make available 70 MHz of S-band spectrum to Devas, which the latter planned to use to offer hybrid satellite and terrestrial communication services throughout India.

The agreement was… Continue Reading...

Tagged: Indian Space Research Organization   ISRO  
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