US court refuses to stay suit in $1.2 billion Devas arbitration award

A federal court in the United States has denied a motion to stay proceedings in a case related to the enforcement of a $1.2 billion arbitration award won by Devas Multimedia against Antrix Corp, the Indian space agency’s commercial arm.

Judge Thomas S. Zilly of the United States District Court for the Western District of Washington said the motion lacked merit and was intended to further delay proceedings.

The motion to stay the proceedings was filed on July 16 by a counsel representing Devas Multimedia. The counsel was appointed by the National Company Law Tribunal (NCLT) as Devas is under liquidation in the country over fraud charges.