Keywords: Docomo, Tata “As a signatory to the New York Convention, India is bound to enforce the award decision of the LCIA tribunal for Tata to pay $ 1.17 billion to DoCoMo,” the Japanese company said in a statement. RBI, in turn, wrote to the Finance Ministry for exemption from the rules as such a measure would boost investor confidence. Japan’s largest mobile phone company NTT DoCoMo said India, being a signatory to the New York Convention, is bound to enforce the award decision of a London-based arbitration court that ordered Tata Group to pay $ 1.17 billion in compensation to the company. NTT DoCoMo in November 2009 acquired 26.5 per cent stake in Tata Teleservices for about Rs 12,740 crore (at Rs 117 per share).

Source: The Hindu August 02, 2016 12:22 UTC