July 25, 2016

The UNCITRAL tribunal in The Hague issued the “Merits Award” in favor of Mauritian shareholders of Devas finding the Government of India liable for “unlawful expropriation” of and “failure to provide fair and equitable treatment” to the Mauritian shareholders’ investments in Devas, in violation of India–Mauritius Bilateral Investment Promotion and Protection Agreement, known as the BIT Award. Articles 6 & 7.