Big win for Antrix as US court reverses $1.3 billion damages order

In a big victory for Antrix in its long-drawn legal fight against Bengaluru-based Devas Multimedia and its foreign investors on American soil, the Ninth Circuit Court in California, which is by far the largest of the 13 US Courts of Appeals, has allowed the appeal of Isro’s commercial arm in totality and reversed the confirmation of the ICC award of $1.3 billion against Antrix earlier given by the district court at Seattle in a decade-old case of the failed satellite deal in 2005.

from Times of India https://ift.tt/dQsPbeH
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