Devas threatens new arbitration in fight for $ 1.3 billion Indian reward

Law360 (May 7, 2021, 9:25 p.m. EDT) – India has been threatened with a treaty claim by Mauritian shareholders of satellite company Devas Multimedia Pvt. Ltd. on New Delhi’s alleged attempts to avoid paying an arbitration award of nearly $ 1.3 billion against a division of the country’s space agency.

Shareholders have signaled their intention to take investor-state action against the country in an advisory Thursday to Indian Prime Minister Narendra Modi and other government officials, in which they accused the country of “abuse[ing] his sovereign powers “by pursuing” multiple and baseless “investigations against the Devas.

The investigations would have hampered the satellite company’s ability to enforce the massive sentence, …

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