Tata, DoCoMo to bury the hatchet, but RBI hurdle remains to be cleared

Settlement terms clear the way for the payment of $1.18 bn, already deposited by Tata Sons.

Tata Sons has agreed to settle with NTT DoCoMo a long-standing arbitration dispute over the exit of the Japanese firm from their Indian telecom joint venture.

The two companies on Tuesday requested the Delhi High Court to conclude legal proceedings and accept the settlement, agreed upon by the two companies out of court. 

The London Court of International Arbitration (LCIA) had awarded $1.18 billion to Japan’s largest telecom firm in June 2016.

Senior advocate Darius Khambata, on behalf of Tata, said, “Tata Sons withdraws its objections to the enforcement of the arbitration award in favour of NTT DoCoMo.”

The settlement