The US Ninth Circuit upheld a $565.2 million ICC arbitration award against ISRO's commercial arm Antrix Corp, rejecting arguments of sovereign immunity under the FSIA. This landmark ruling clarifies the limits of state immunity in commercial arbitration and has significant implications for India's space sector and international investment disputes.
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- ›Award Amount: $565.2 million (now over $1.2 billion with interest)
- ›ICC Award Date: September 14, 2015
- ›Target this Data: $565.2 million ICC award (now $1.2 billion with interest)
- ›Target this Nodal Body: Antrix Corporation – commercial arm of ISRO
- ›Target this Legal Point: FSIA arbitration exception under which US courts assumed jurisdiction
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