Devas Multimedia, a Deutsche Telekom backed Mobile TV company, set up in partnership with ISRO's commercial arm Antrix, has been awarded $672 million in damages by an International Chamber of Commerce's International Court of Arbitration. The court found Antrix liable for unlawfully terminating the Devas-Antrix Agreement in February 2011. Devas had planned to launch S-DMB (satellite and terrestrial) Mobile TV services in India. A statement from Devas: “Devas Multimedia and its shareholders, including highly regarded international investors, are pleased that the ICC Tribunal unanimously ruled in its favor and found that Antrix is liable for unlawfully terminating the Devas-Antrix Agreement in February 2011. The ICC Tribunal also awarded damages and pre-award interest totaling USD $672 million to Devas with post-award interest accruing at 18% per annum on that sum until the award is fully paid.” “Devas is hopeful that Antrix will now live up to its legal obligations and pay the award so that this dispute that arose during the prior government can be brought to a swift close.” The Pioneer reports that Antrix has said they would move the court for remedy and appeal this order, which finds that Antrix had no legal justification for terminating the agreement and the Secretary, Department of Space and Chairman of ISRO, Antrix and the Space Commission, could have prevented the Cabinet Committee on Security (CCS) from approving the annulment. "National Security" had been given as the reason for the termination of the agreement. Notes from the agreement (from our 2011 report) – Devas…
