RBI opposes Tata-DoCoMo settlement

Delhi High Court tells central bank to decide stand by March 14

The Delhi High Court on Wednesday directed the Reserve Bank of India (RBI) to decide by March 14 its position in the $1.18-billion arbitration award now sought to be enforced by Japanese telecom major NTT DoCoMo, in line with a settlement agreement reached with Indian conglomerate Tata Sons.

Justice Muralidhar’s order came in the backdrop of detailed arguments made by the RBI against a joint application by DoCoMo and Tata on February 28, requesting the court to allow the terms of the settlement reached at by the two companies and to enforce the June 22, 2016, London Court of International Arbitration