Delhi High Court Sets Aside Billion Dollar ICC Award on Grounds of “Patent Illegality and Fraud”

The Delhi High Court (the “Court”) in a recent decision, has set aside a 2015 arbitral award of the International Chamber of Commerce (“ICC”) which had directed Antrix Corporation Limited (“Antrix”) to pay damages of over US$ 560 million plus interest to Devas Multimedia Private Limited.

This is the latest development in a series of disputes that first arose more than a decade ago, as a result of Antrix’s premature termination of a leasing agreement with Devas. In its decision, the Court has held that the ICC Award, now worth in excess of US$ 1 billion with interest, suffered from “patent illegalities and fraud” and was accordingly in conflict with the “public policy of India“, such that it was liable to be set aside under India’s Arbitration and Conciliation Act, 1996…

Read the complete article here.

Featured Arbitrators

ad
View all

Read these next

Category

Ticketmaster’s New Dispute Resolution Process – Rethinking Consumer Arbitration

Within the vibrant and expansive world of live entertainment and ticketing, where the stage is set, the lights are lowered, and anticipation fills the air, a significant legal question has...

By Indraneel Gunjal, Damini Mohan
Category

The Future of the Transportation Worker Exemption to Mandatory Arbitration – Clarity for the Gig Economy?

In 1925, the Federal Arbitration Act (“FAA”) was enacted to ensure the validity and enforcement of arbitration agreements due to a national policy favoring arbitration as a dispute resolution mechanism....

By Brittany Munn
Category

Arbitration Conversation No. 43: Prof. Andrea Bjorklund of McGill University Faculty of Law

In this episode of the Arbitration Conversation Amy interviews Prof. Andrea Bjorklund, Full Professor and the L. Yves Fortier Chair in International Arbitration and International Commercial Law at McGill University...

By Andrea Bjorklund, Amy Schmitz

Find an Arbitrator