The shareholders are seeking compensation commensurate with an arbitration award of $1.3 billion and have demanded that since Devas has been wound up, India must pay the award directly to the claimants.
Huawei said that it has initiated arbitration proceedings against Sweden under the World Bank Group after the Nordic country banned the Chinese tech giant from rolling out its 5G products.
The shareholders had sought the right to seize all sum or moveable property of India and/or AAI being held by the International Air Transport Association.
Devas Multimedia’s investors are eyeing several properties owned by the Indian government across the world, as they seek to enforce a $1.3 billion arbitral award the satellite company won against Antri.
An arbitration tribunal in 2020 awarded Devas more than $111 million plus interest in retro tax case.
America Movil said the World Bank’s ICSID tribunal has ruled against the company in its dispute with Colombia and ordered it to pay $2.2 million to cover the costs of the case.
Netherlands-based United Group claims that Serbia has violated several obligations related to incentives and mutual protection of investments between the two countries.
Draft text shows Beijing looked to withhold telecoms sector benefits to firms from countries with restrictions on Chinese telecoms companies.
Solicitor General Tushar Mehta has advised the government that the decision of an arbitration tribunal cannot contradict the law passed by a sovereign parliament.
The scope of consent to arbitration is an important issue that needs to be finally settled - not least because it could have multi-billion dollar implications for India in respect of other cases involving challenges to India’s taxation measures by foreign investors.
Orange Group has instituted legal proceedings against Iraq in an attempt to claw back more than USD 400 million in investments it alleges were expropriated by the country’s regulator.
The Indian government plans to contest the judgement on the Vodafone arbitration award in Hague.
Vodafone Group Plc’s big win against the Indian government could set a precedent for similar arbitration cases, including the one initiated by Cairn Energy Plc.
Vodafone won an international arbitration case against the Indian government, ending one of the most high-profile disputes in the country involving a $2 billion tax claim.
Telenor, the principal investor of Bangladesh’s leading mobile phone operator Grameen Phone, has served a legal notice to the President of Bangladesh seeking arbitration.
Telefonica Mexico has withdrawn its arbitration claim against the Mexican government in which it had requested compensation amounting to around EUR 850 million after reaching an agreement with the country.
Key divides still remain on autos, agriculture, dispute panels. Freeland says she’ll take the time to ‘get a good deal’.
Trump’s negotiators had sought to pen in Mexican regulations. Mexico countered with trilateral plan to promote competition.
Telefonica has filed an arbitration complaint with the World Bank’s ICSID against the Colombian arbitration fine for breaching a government contract for mobile services.
India’s top court allowed Britain’s Vodafone to initiate a second arbitration process under an India-UK investment pact .