In its recent decision in Antrix Corporation Ltd. v. Devas Multimedia Pvt. Ltd., the High Court of Delhi has set aside the arbitral award passed against Antrix Corporation Ltd. directing it to pay USD 562,200,000 (US Dollars five hundred sixty two million two hundred thousand) to Devas Multimedia Pvt. Ltd. for wrongful termination of the contract between them. The Court held that the award suffers from patent illegalities and fraud and was against the public policy of India.
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