According to reports, India has lost a major international spectrum case and now the country might have to pay upto a billion dollars in damages. Here are facts should know about the case:
- The case in Hague was filed against Indian government by Devas Multimedia, a telecom firm based in Bengaluru, who had US investors
- In year 2005, Devas was told that it can use valuable S- band spectrum – which is in short supply – that means leasing space on two Indian satellites
India lost spectrum case
The company dragged India’s space research firm into international arbitration after its deal leased space was terminated on charges of irregularities.
Notably, today’s verdict from the International Tribunal at the Hague could paint India’s image as an unreliable recipient of foreign investment.