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\"\" MUMBAI: NTT Docomo<\/a> on Wednesday filed its response to the Tata Group<\/a>’s position in the Delhi High Court<\/a> that it cannot pay an international arbitration award in favour of the Japanese company, saying it was tired by what it called the bad faith shown by the Tata Group.
\n
\nThe filing comes ahead of the October 5 hearing where the court may decide whether or not to honour the $1.2 billion award. The two groups have been at loggerheads over their joint venture, Tata Teleservices.
\n
The London Court of Arbitration agreed with Docomo<\/a>’s argument that the Indian partner failed to meet the terms of their joint venture agreement to repurchase its 26% stake in Tata Tele or find another buyer. Docomo moved the Delhi High Court seeking enforcement of the arbitration award, but, in its filing to the court on September 2, the Tata Group said the award was unacceptable because the contract itself had become void after regulatory changes in India.
\n
\nThe Tata Group’s move had ended hopes that an out of court agreement was possible, as the two sides were in talks for a couple of days before the filing.
\n
\n“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,” a statement issued by Docomo said on Wednesday.
\n
\nThe Japanese entity said it was tired by what it called the bad faith shown by the Tata Group by invoking central bank rules to avoid payment. Sources familiar with Docomo’s views said the Tata Group brought forth ultimatums as opposed to a collaborative approach to finding a solution.
\n
The Tata Group’s stand is two-sided. The group has always maintained its desire to pay but its inability to do so due to Reserve Bank rules. “We reiterate our earlier position that enforcement of the award in the absence of RBI’s approval would be violative of FEMA<\/a> (the Foreign Exchange Management Act) and therefore any action towards implementing the award — whether in India or overseas — would be unlawful and against public policy,” a group spokesperson said.
\n
\nThe group had deposited the award amount with the HC registrar after the court had asked it to do so. “Parties have presented their respective position before the Delhi High Court and it is now for the Hon’ble Court to take a final view in this matter,” the Tata spokesperson said.
\n
\nThe Docomo statement said: “Docomo trusts that the Indian court will acknowledge its obligation to enforce the award, and with this confirmation Docomo hopes that Tata will work with it to enable payment of the amount due.”\n\n<\/body>","next_sibling":[{"msid":54575809,"title":"Domestic enterprise technology startups like Druva, Manthan, Newgen get set for primary market debut","entity_type":"ARTICLE","link":"\/news\/domestic-enterprise-technology-startups-like-druva-manthan-newgen-get-set-for-primary-market-debut\/54575809","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":54575874,"entity_type":"ARTICLE","title":"Docomo files response on award enforcement dispute","synopsis":"The Tata Group\u2019s move had ended hopes that an out of court agreement was possible, as the two sides were in talks for a couple of days before the filing.","titleseo":"telecomnews\/docomo-files-response-on-award-enforcement-dispute","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2016-09-29 08:20:13","lastupd":"2016-09-29 08:54:16","breadcrumbTags":["NTT Docomo","industry","Tata Group","Delhi High Court","Docomo","FEMA"],"secinfo":{"seolocation":"telecomnews\/docomo-files-response-on-award-enforcement-dispute"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2016-09-29" data-index="article_1">

Docomo文件响应奖执行纠纷

塔塔集团的行动结束了希望私了协议是可能的,双方在会谈前几天。

  • 更新2016年9月29日上午08:54坚持
孟买:NTT Docomo周三提交的响应塔塔集团的位置德里高等法院它不能支付一个国际仲裁裁决的日本公司,说它累了,它叫做塔塔集团所表现出的恶意。

申请,10月5日听证会,法院可以决定是否兑现12亿美元奖。两组就一直不和他们的合资企业,塔塔电信业务。

伦敦仲裁法院的同意Docomo的说法,印度合作伙伴不能满足条款合资协议回购其塔塔Tele或找到另一个买家26%的股份。Docomo搬到德里高等法院寻求仲裁裁决的执行,但是,在其提交给法院9月2日,塔塔集团表示,该奖项是不可接受的,因为合同本身已经成为印度的监管改革后无效。

塔塔集团的行动结束了希望私了协议是可能的,双方在会谈前几天。

“综合处理反对意见的响应,在印度塔塔提高执法的奖项授予有利于Docomo的伦敦仲裁法庭,”发表声明Docomo周三表示。

日本实体表示,它累了,所谓的恶意塔塔集团通过调用央行规则来避免支付。知情人士Docomo的观点说,塔塔集团提出的“最后通牒”而不是一个协作的方法找到一个解决方案。

塔塔集团的立场是双面的。集团一直保持着其渴望支付但由于储备银行规则无法这样做。“我们重申我们的立场,早些时候执行奖没有央行的批准将会违背的联邦应急管理局(外汇管理行为),因此对实现任何行动奖-在印度和海外——是否非法和公共政策,”集团的一位发言人说。

组沉积奖数量与HC注册后法院已经要求它这样做。“政党都提出了各自的立场在德里高等法院和现在的鸿'ble法院最终的观点在这个问题上,”塔塔发言人表示。

Docomo的声明说:“Docomo信托,印度法院将承认其义务执行奖,和确认Docomo希望塔塔将与它使付款的到期金额。”
  • 发布于2016年9月29日上午08:20坚持
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\"\" MUMBAI: NTT Docomo<\/a> on Wednesday filed its response to the Tata Group<\/a>’s position in the Delhi High Court<\/a> that it cannot pay an international arbitration award in favour of the Japanese company, saying it was tired by what it called the bad faith shown by the Tata Group.
\n
\nThe filing comes ahead of the October 5 hearing where the court may decide whether or not to honour the $1.2 billion award. The two groups have been at loggerheads over their joint venture, Tata Teleservices.
\n
The London Court of Arbitration agreed with Docomo<\/a>’s argument that the Indian partner failed to meet the terms of their joint venture agreement to repurchase its 26% stake in Tata Tele or find another buyer. Docomo moved the Delhi High Court seeking enforcement of the arbitration award, but, in its filing to the court on September 2, the Tata Group said the award was unacceptable because the contract itself had become void after regulatory changes in India.
\n
\nThe Tata Group’s move had ended hopes that an out of court agreement was possible, as the two sides were in talks for a couple of days before the filing.
\n
\n“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,” a statement issued by Docomo said on Wednesday.
\n
\nThe Japanese entity said it was tired by what it called the bad faith shown by the Tata Group by invoking central bank rules to avoid payment. Sources familiar with Docomo’s views said the Tata Group brought forth ultimatums as opposed to a collaborative approach to finding a solution.
\n
The Tata Group’s stand is two-sided. The group has always maintained its desire to pay but its inability to do so due to Reserve Bank rules. “We reiterate our earlier position that enforcement of the award in the absence of RBI’s approval would be violative of FEMA<\/a> (the Foreign Exchange Management Act) and therefore any action towards implementing the award — whether in India or overseas — would be unlawful and against public policy,” a group spokesperson said.
\n
\nThe group had deposited the award amount with the HC registrar after the court had asked it to do so. “Parties have presented their respective position before the Delhi High Court and it is now for the Hon’ble Court to take a final view in this matter,” the Tata spokesperson said.
\n
\nThe Docomo statement said: “Docomo trusts that the Indian court will acknowledge its obligation to enforce the award, and with this confirmation Docomo hopes that Tata will work with it to enable payment of the amount due.”\n\n<\/body>","next_sibling":[{"msid":54575809,"title":"Domestic enterprise technology startups like Druva, Manthan, Newgen get set for primary market debut","entity_type":"ARTICLE","link":"\/news\/domestic-enterprise-technology-startups-like-druva-manthan-newgen-get-set-for-primary-market-debut\/54575809","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":54575874,"entity_type":"ARTICLE","title":"Docomo files response on award enforcement dispute","synopsis":"The Tata Group\u2019s move had ended hopes that an out of court agreement was possible, as the two sides were in talks for a couple of days before the filing.","titleseo":"telecomnews\/docomo-files-response-on-award-enforcement-dispute","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2016-09-29 08:20:13","lastupd":"2016-09-29 08:54:16","breadcrumbTags":["NTT Docomo","industry","Tata Group","Delhi High Court","Docomo","FEMA"],"secinfo":{"seolocation":"telecomnews\/docomo-files-response-on-award-enforcement-dispute"}}" data-news_link="//www.iser-br.com/news/docomo-files-response-on-award-enforcement-dispute/54575874">