Diabytes
London Court of International Arbitration News
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The London Court of International Arbitration (LCIA) in its September 12, 2017 order had directed Bakshi to sell his stake in the joint venture (JV), Connaught Plaza Restaurants Pvt Ltd (CPRL), to McDonald's India Pvt Ltd (MIPL).
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Japanese telecom firm NTT DoCoMo hopes that the RBI will not create any more obstacle in enforcement of the USD 1.17-billion award by the Tata Group as approved by the Delhi High Court to settle a 3-year old dispute between the estranged partners.
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The Delhi High Court on Wednesday reserved its verdict on Japanese telecom major NTT Docomo's plea to enforce the USD 1.17 billion damages awarded to it for breach of contract by Tata Sons with regard to their joint venture TTSL.
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The Delhi High Court on Wednesday asked the RBI whether its permission was required if there is no other objection to the enforcement of the USD 1.17 billion arbitral award in favour of Japanese telecom major NTT Docomo in its case with Tata Sons.
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In a dispute between NTT DoCoMo and Tata Sons over the enforcement of a US $1.17 billion award by the London Court of International Arbitration (LCIA), the Japanese firm has moved a US court.
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Tata Sons today said it has transfered USD 1.17 billion, equal to the compensation awarded to its estranged partner DoCoMo of Japan, into a fixed depsoit in name of Delhi High Court Registrar.
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