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Thursday, August 11, 2011

Antrix moves SC on arbitration with Devas Antrix moves SC on arbitration with Devas!

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PTI / / Last Updated : 10 Aug 2011 10:21:50 PM IST.

NEW DELHI: Antrix Corporation, the commercial arm of ISRO, has approached the Supreme Court challenging the arbitration proceedings initiated against it in London by Devas Multimedia, whose controversial 1,000 crore deal for scarce S-band spectrum with it was annulled.

Antrix has filed a petition objecting to the invocation of arbitration proceedings by Devas at the International Court of Arbitration in London.

It sought that any arbitration proceedings between them should take place within the boundaries of India.

Antrix is contending that as per their agreement and tender conditions, the place of arbitration was Bangalore and has requested the apex court to interpret the arbitration agreement of the deal.

The petitioner has requested the apex court to decide the place and other formalities on the arbitration.

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