In 2005, the Indian company Antrix Corporation delivering space products and services, agreed with Devas to build and orbit satellites with the commitment to make available 70MHz S-band to Devas, having the intention to provide communication services across India. However, in 2011 due to alleged fraud perpetrated by Devas, Antrix cancelled the contract. In 2021, the International Court of Arbitration (ICC) issued an arbitration award in favor of Devas for 562$, ruling that Antrix was not entitled to cancel the contract under the claims made.
Following this, Antrix filed a petition challenging the arbitral order, which was accepted. Recently, the Delhi high court concluded that “the impugned award suffers from patent illegalities and fraud, and is in conflict with the public policy of India”, thus setting aside the arbitral order.
It is a significant relief for Antrix corporation that declared: “Delhi HC has now re-affirmed, inter alia, that Devas has obtained the contract by fraud, did not possess the necessary licenses, did not have the necessary intellectual rights, and that investments and remittances by Devas were in violation of regulatory norms”.
- Publication date
- 7 September 2022