HC dismisses RBI’s plea in Tata-Docomo case

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HC dismisses RBI’s plea in Tata-Docomo case

Justice S. Muralidhar cleared the way for enforcing the $1.17 billion arbitral award by the London Court of International Arbitration, to settle a two-year-old dispute between Tata and Docomo.

The arbitral award “is declared as enforceable in India and shall operates as a decree of this court”.

The RBI through its intervention application opposed the award as well as the settlement between Tata and Docomo over the Japanese company’s exit from the joint venture.

It had also opposed the pact arguing that it amounted to a transfer of shares and was illegal.

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