Japanese mobile operator NTT Docomo announced an agreement with Tata Sons, the promoter of Indian communications provider Tata Teleservices (Maharashtra), to settle their dispute over Docomo's stale in the Indian mobile operator. Docomo and Tata Sons have agreed on a joint approach to enable enforcement of the June 2016 London Court of Arbitration award in Docomo’s favour.
On 25 February, the parties jointly applied to the Delhi High Court, requesting that it accept their agreed terms of settlement. The terms include the good faith withdrawal of Tata Sons' objections to enforcement in India, and seek the court's declaration that the award is enforceable in India. The settlement terms clear the way for the USD 1.18 billion already deposited by Tata Sons with the court to be paid to Docomo, and would allow Docomo to transfer its shares in Tata Teleservices.
As part of this joint application, and in anticipation of the matter being finally resolved in India, Docomo has agreed to suspend its related enforcement proceedings in the UK and the US for a period of time.
Docomo said it hopes to continue to work together with Tata Sons constructively to achieve a resolution. Docomo says full satisfaction of the award through the Delhi High Court's judgment will enable Docomo to consider reinvestment of an amount in India, under a new cooperative relationship with Tata Sons.
