Devas’ investors can join effort to enforce arbitral award : UK Judge

There is “obvious merit” in allowing investors in Devas Multimedia to join proceedings aimed at enforcing the $1.2 billion arbitral award won by the satellite firm in 2015, a London judge noted last week, while observing what he termed as the steps being taken by India to make the award ineffective.

Judge David Waksman of the High Court of Justice on Friday concluded that the application by Devas (Mauritius) Ltd. and other investors in the company to join the proceedings was “well founded”, especially since the satellite company has been placed in liquidation in India.

“(India), is taking steps both in India and around the world, in other places where the arbitral award has been registered as a judgment, to undo it, so that the award will become ineffective,” Judge Waksman noted.