US appeals court upholds $562.5 million award for Devas Multimedia
A US appeals court just affirmed confirmation of a $562.5 million arbitral award against Antrix, the commercial arm of India's space program, in its long-running clash with Devas Multimedia.
The judges said that even though Antrix is state-owned, US courts have jurisdiction thanks to an arbitration exception in the Foreign Sovereign Immunities Act (FSIA).
But there's a twist: the case now heads back to a lower court to see if Indian court decisions that canceled the award will change things.
Antrix's transfer request denied, case remanded
Antrix tried arguing that the case should be moved to India and claimed there wasn't enough of a US connection, but the court wasn't convinced and cited international rules under the New York Convention.
This all follows a 2025 US Supreme Court ruling about how foreign government-backed companies can be sued in the US.
Now, it's up to the district court to decide what happens next, so this legal drama isn't over yet.