Tata Sons on Monday said it has filed an affidavit in the London Commercial Court against the enforcement of the arbitration award in favour of Japan’s NTTDoCoMo. When DoCoMo chose to exercise this option in March 2014, it sought ₹58 per share, or ₹7,200 crore from the Tatas. DoCoMo moved the London court in January 2015, and the Tatas were ordered to pay $1.17 billion. DoCoMo filed an enforcement proceeding before the Delhi High Court again in July 2016. The Tata Group is likely to have invoked the same provision while filing the affidavit in the London court on Monday.

Source: Hindustan Times September 06, 2016 05:15 UTC