New Delhi April 28 (IANS) The Delhi High Court on Friday dismissed the Reserve Bank of India s application opposing the enforcement of an arbitral award in the Tata-NTT 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.
--IANS
pk/ksk/vt
HC dismisses RBI s plea in Tata-Docomo case
