India: After losing the Permanent Court of Arbitration (PCA) tribunal at Hague, ISRO chairman, Kiran Kumar said that they will appeal against the Hague judgement. The Hague tribunal, which addresses disputes in agreements signed under the rules of the United Nations Commission on International Trade Law (UNCITRAL), passed the judgement in an annulled deal between ISRO’s commercial arm, Antrix Corporation, and Bengaluru-based startup Devas Multimedia.
The judgement at Hague held the Indian govt. liable to pay compensation to the tune of 40 per cent of investment made by foreign investors of Devas Multimedia.
“ISRO will appeal against the Hague judgement”, said Kumar at the foundation day of the Ministry of Earth Sciences (MOES) in Vigyan Bhawan.
Present at the event, minister for MOES, Dr. Harsh Vardhan on the foundation day of the Ministry of Earth Sciences (MOES) said, “our tsunami system is one of the most advanced in the world.”