Docomo replies to Tata plea in HC

NTT DOCOMO on Wednesday filed with the Delhi High Court its response to the appeal by Tata Sons on September 2 to stop the enforcement of an arbitration award by the London Court of International Arbitration (LCIA).

“The response deals comprehensively with the objections which Tata raised to enforcement in India of the award granted in Docomo’s favour by the London Court of Arbitration on June 22. As Docomo noted at the time, Tata’s filing represented the latest in a series of roadblocks constructed to prevent enforcement,” the Japanese telecom company said in a statement. In June, the LCIA awarded Docomo $1.17 billion in damages after deciding that the commercial agreement between the parties was valid when Docomo picked up stake in Tata Teleservices Ltd in 2009. The deal included a non-performance clause, as per which Docomo could invoke a put option to sell back its 26.5 per cent at a minimum of half of Rs 7,250 crore it paid for the share purchase.