The delhi high courts recent judgment in the tatadocomo matter represents the culmination of a longrunning and high. Docomo invoked arbitration in london arbitration award in favour of docomo tata applied to the rbi for the second time for remittance of money in terms of the arbitral award rbi once again declined the application of tata docomo approached the delhi high court for enforcement of the arbitral award tata docomo filed consent terms with the delhi. During the pendency of the arbitration proceedings, the. Docomo previously announced the courts decision in a press release entitled court decision regarding stake in tata teleservices dated. A unanimous award was announced by the at on 22 nd june 2016. The courts in india will now need to legislate whether or not paying out such amounts will amount to a breach of the fundamental policy of indian law recently, many foreign investors have been closely following the developments in the indian telecom sector regarding. Delhi high court dismisses rbis objections upholding docomo award. Tata group and ntt docomo to end dispute over jointventure tata and docomo have decided to settle their twoyear old dispute regarding their telecom joint venture, tata teleservices ltd. However, eight days later reserve bank of india rbi opposed the consent terms because the. Tata sons ltd has filed an affidavit with the delhi high court on friday objecting to the enforcement of an arbitration award by the london court of international arbitration, said a. The payment of the arbitration award is in accordance with the delhi high courts decision regarding docomos stake in tata teleservices, says.
The court dismissed the reserve bank of indias intervention in the dispute after the central bank failed to back its opposition to the. Delhi high court dismisses rbi s objections upholding. Hc awaits rbis stand rbi has objected to the consent terms saying if docomo fails to succeed in enforcement of its award in india, it cannot say it will try and enforce it in some other jurisdiction after 6 months. Delhi hc reserves verdict on arbitral award enforcement justice s muralidhar also reserved the order with regard to permission sought by the companies for transfer of funds as per the settlement arrived at between the parties. Delhi high court allows enforcement of the award in tata. Read more about docomo looks at arbitration option to exit tata tele on business standard. Tata sons, ntt docomo agree to settle dispute et telecom. The obligation of tata sons under the agreement was not. The court dismissed the reserve bank of indias intervention in the dispute after the central bank. Docomo was jointly represented by skadden and khaitan.
Delhi hc reserves verdict on arbitral award enforcement. Responding to tata sons stand in the delhi court, ntt docomo said. Ntt docomo seeks arbitration with tata sons over joint. Tatas move delhi high court to stop docomo arbitration award. Under the settlement agreement between the two companies, tata and docomo have decided to settle their twoyearold dispute regarding ttsl with the indian company withdrawing its objections to the enforcement of the award. Arbitration award regarding stake in tata teleservices. In view of these disputes, docomo referred the matter to arbitration. Et now reported that tata sons withdrew objections to arbitration award in favour of ntt docomo. The court allowed any of the party to apply to the court in case of. Durga manda and moazzam khan of nishith desai consider the delhi high courts decision in docomo v tata in which the court dismissed the reserve bank of indias rbi. Docomo had exercises its option on july 7, 2014, to request that a suitable buyer be found to purchase its tata teleservices shares. Japanese telecom major ntt docomo is looking at the option of moving an international court for arbitration to pressurise the tatas to buy back its 26. Tatadocomo settlementstrong signals introduction the delhi high court dhc delivered an important judgment in ntt docomo inc. The fact that tata has raised objections to the enforcement of the london court of.
Delhi high court dismisses rbis objections upholding docomo award docomo v tata first published on lexispsl arbitration on 05052017 arbitration analysis. On february 28, tata sons announced that it was ending its dispute with ntt docomo and agreed to enforce the award announced by the london court of international arbitration. The court allowed any of the party to apply to the court in case of any. By the said letter, docomo nominated its arbitrator. Tata group and ntt docomo to end dispute over jointventure. In october, 2017 bharti airtel announced merger deal with tata teleservices and acquisition of tata docomo. According to the consent terms agreed by tata and ntt decomo, the latter. Enforcing an arbitral award the award issued by the london court of arbitration lcia, the delhi high court the court on 20 april 2017 settled the tata docomo dispute by its judgment in ntt docomo inc. The delhi high court dhc delivered an important judgment in ntt docomo inc. While both parties ultimately sought to enforce the award. Read more about rbi opposes tatadocomo settlement on business standard. Hc reserves verdict on tatadocomo arbitral award enforcement.
Courts decision in docomo v tata in which the court dismissed the. Enforcing an arbitral award given by london court of arbitration lcia, the delhi high court on 20th april, 2017 settled the tatadocomo. Tata and docomo end multifront enforcement battle gar. Enforcing an arbitral award the award issued by the london court of arbitration lcia, the delhi high court the court on 20 april 2017 settled the tatadocomo dispute by its judgment in ntt docomo inc. On april 28, 2017 4, the court ordered enforcement of arbitral award and allowed them to take all steps and provide all documents as required for remitting funds, after deducting taxes, if any and ordered transfer of shares of tata teleservices limited from docomo to tata. Docomo looks at arbitration option to exit tata tele. Tata docomo was an indian mobile network operator, a wholly owned subsidiary of tata teleservices in partnership with ntt docomo of japan. Ntt docomo received a binding arbitration award from the lcia on june 23, 2016. By letter dated 3rd january 2015, docomo commenced the arbitration proceedings by submitting its request for arbitration on 3 rd january 2015 to the lcia.
Ntt docomo inc vs tata sons limited on 28 april, 2017. Ntt docomo, tata tele, arbitration, corporate dispute. Ntt docomo requests arbitration for tata teleservices. Delhi high court allows enforcement of the award in tatadocomo. As of 21 july 2019, all tata docomo users are merged with airtel network and provided with all the airtel services. Tata sons and japans ntt docomo on tuesday agreed to settle a dispute in connection with the termination of a joint venture. The dispute went to arbitration and an award was issued in. Tata files high court affidavit objecting to docomo. Tata does not seem suited to be a good example for enforcement of arbitral award in india for reasons stated above e. Tata sons and ntt docomo to enforce the arbitral award.
1336 984 808 878 448 75 266 491 1494 221 905 807 1478 1083 457 374 317 1277 91 332 505 1178 133 416 1421 1353 284 11 652 1193 439 517 107 67 379 994 1239 904 1065 852 954 138 190