German telecom major pursues $135 million damages in US court over failed Devas-Antrix deal

German telecom company Deutsche Telekom, an investor in Indian firm Devas Multimedia Pvt Ltd, has filed a petition in a US court against the Indian government seeking confirmation of a $135-million compensation payment to it.

The compensation, which includes interest, was awarded by a Permanent Court of Arbitration in Geneva last year over the 2011 annulment of a satellite deal between Devas and the Indian Space Research Organization’s commercial arm, Antrix Corporation.

Deutsche Telekom, which picked up a 19.62 per cent stake in Devas Multimedia filed the petition for confirmation of damages in a US federal court in the district of Columbia.