Japanese telco NTT Docomo, which has a partnership with Tata Teleservices and operates Tata DoCoMo, has moved to a United States district court to force Tata Group to pay the $1.17 billion in arbitrary order from a London court for breach of contract, reports India Live Today. Docomo said that it would continue to ‘seek enforcement globally until it receives the full amount due’, while Tata Sons maintains that it will resist enforcement in India, and in any other jurisdiction that Docomo files for enforcement. Tata cites RBI regulation for non-payment NTT Docomo secured the arbitration from London Court of International Arbitration in June. Tata on the other hand resisted the enforcement of the arbitration award in India, stating that the delay in payments was due to RBI’s foreign exchange regulations that prevents Tata from paying out the entire amount in a single transaction. “We have put the entire amount in a fixed deposit to the Delhi Court Registrar, which completely shows our commitment and intention to repay,” a spokesperson told MediaNama in August. While securing the arbitrary order, NTT Docomo said in a statement that it took the case legally “after Tata Sons had failed to fulfill its obligation, despite DOCOMO’s repeated negotiations with Tata Sons regarding the sale of its entire stake in TTSL (Tata Teleservices).” The terms of agreement between both companies provides an option for the acquirer (NTT Docomo) to request a suitable buyer for at least 50% of the acquired price if Tata failed to meet…
