Delhi High Court dismisses Devas’ appeal against order setting aside its USD 560 million ICC arbitral award

A two judge appeal bench of the High Court of Delhi has dismissed Devas Multimedia Private Limited’s appeal against last year’s order setting aside the ICC arbitral award it won against Antrix Corporation Limited, confirming that it would “be against all principles of justice, equity and good conscience” to permit Devas and its shareholders to reap any benefits from it.