India Panel Affirms Set-Aside Of Award Worth $1.3B In Satellite Row, Citing Fraud

Mealey's (March 21, 2023, 10:09 AM EDT) -- NEW DELHI, India — An Indian appellate court affirmed the set-aside of an arbitral award worth more than $1.3 billion issued against an Indian state-owned company for terminating a telecommunications contract with an Indian entity formed by foreign investors after finding that the court properly relied on the Indian Supreme Court’s findings in a separate proceeding that the underlying agreement was obtained through fraud....