Indian Court sets aside Devas’ US$ 562.5 million arbitration award against Indian state-owed Antrix

On 29 August 2022, the High Court of Delhi at New Delhi vacated an arbitration award handed down by an ICC Arbitral Tribunal against the Indian state-owned Antrix Corporation Limited (Antrix). The 2014 Award ordered Antrix to pay Devas Multimedia Services Ltd (Devas) US$ 562.5 million compensation plus interest.