SC stays execution of $1.2 bn pay order against ISRO’s Antrix by US court

The Supreme Court on Wednesday stayed the execution of an award passed by a US court asking Antrix Corporation, the commercial arm of ISRO, to pay compensation of USD 1.2 billion to Devas Multimedia, a Bengaluru-based startup, for cancelling a 2005 satellite deal.

A bench headed by Chief Justice S A Bobde and comprising Justices L Nageswara Rao and Indu Malhotra stayed the execution of the international award, which was passed last week by the US court. The bench said it is keeping the US order in abeyance and transferred the proceedings from the Bengaluru court to the Delhi High Court.