A Permanent Court of Arbitration (PCA) tribunal in The Hague has ruled against Antrix Corporation, the commercial arm of India’s space organisation, ISRO, in the ongoing case with Devas Corporation over sharing of spectrum on satellites. Following the ruling, India may have to fork out $ 1 billion as compensation to Devas. The government said the award is being “examined” and legal recourse, as deemed fit, would be taken.
Second ruling
The ruling, issued on Monday, was the second by an international tribunal in favour of Devas on the cancellation of the Devas-Antrix contract.
“A PCA tribunal has found that the Government of India’s actions in annulling a contract between Devas and Antrix Corporation Ltd. and denying Devas commercial use of S-band spectrum constituted an expropriation,” Devas said in a statement on Tuesday.
