Devas Antrix Case

Background

The recent judgment of the Supreme Court (“SC”) in Devas Multimedia Private Limited v. Antrix Corporation Limited[1] (“the Antrix case”) has many interesting facets. It brings to light some interesting questions of law on the enforcement of foreign arbitral awards and the Bilateral Investment Treaties when the claimant company (Decree holder) is ordered to be wound up (for the first time in India)  on the grounds of fraud, which is against the public policy of India and most jurisdictions that are signatories to the New York Convention.Continue Reading SC’s decision in the Devas Antrix Case: Does it dilute evidentiary value of the Auditor’s Report under the Companies Act?

Race to Space - Space Activities Bill, 2017 - commercialization of space

Spearheaded by the Department of Space and Indian Space Research Organisation (ISRO), India has developed low cost indigenous space capabilities for peaceful purposes over five decades. The proposed Space Activities Bill, 2017 (Bill), seeks to dismantle the Government monopoly on space and encourage private sector involvement. Will it lead to advancement of the space programme?

Globally, the space sector is no longer the preserve of Governments, as entry barriers to private players are being lifted[1]. The need for technological advancement, cost reduction and emerging opportunities such as mineral exploration of planets, are some of the reasons for encouraging the private sector. ISRO began commercialising certain space activities by opting for a public-private partnership model[2]. It has since seen many start-ups, but has yet to translate into a wider role for the private sector.  
Continue Reading Race for Space