US court confirms ₹5,400 crore payout by ISRO's commercial wing to Bengaluru startup
A US appellate court has upheld a $562.5 million (approximately ₹5,400 crore) judgment against Antrix Corporation, the commercial division of ISRO, regarding a legal battle with Devas Multimedia, a startup based in Bengaluru. The conflict originated from a 2005 satellite agreement that Antrix terminated in 2011, pointing to issues of national security. The court dismissed Antrix's request to transfer the litigation to India, citing regulations under the New York Convention.
by shortkt.com✓