Japanese telecom company NTT Docomo has sued Tata Sons in an American court, seeking $1.2 billion in damages that it had won in the London Court of Arbitration in June this year for exiting the loss-making joint venture — Tata Teleservices.
The suit has been filed in the US District Court for the Southern District of New York.
The decision of the LCIA (London Court of International Arbitration) that Tata has breached its commercial agreement and owes DoCoMo $1.2 billion in damages is enforceable in any country which is a signatory to the New York Convention, including the United States.
Background:
Docomo had warned that it would get courts across the world to attach Tata Sons’ properties to make sure the Tatas pay the exit price that was decided when it invested in the wireless telecom venture in 2009.
It had also warned that receivables due from third parties to Tata group companies would be attached to enforce the award.