Delhi HC upholds order setting aside award asking Antrix to pay USD 562 million to Devas

New Delhi: The Delhi High Court on Friday upheld an order setting aside an arbitral award directing ISRO’s Antrix Corporation to pay damages of USD 562.2 million with interest to Devas for terminating a deal in 2011. A bench headed by Chief Justice Satish Chandra Sharma dismissed an appeal by Devas Employees Mauritius Pvt Ltd, a shareholder of Devas Multimedia Pvt Ltd, against the order passed by a single judge of the high court and said there was no error in the earlier finding that award suffered on the grounds of “fraud” and “being in conflict with the public policy of India”.