In Brief
Aastha Broadcasting Network Limited and Thaicom Public Company Limited were parties to a dispute over satellite space segment hire agreements, which resulted in an arbitral award against Aastha for USD 10,16,603.78. After the Supreme Court challenged the award and filed an appeal, both parties negotiated and settled their dispute for USD 3,75,000 as full and final payment. The Court disposed of the appeal in terms of the settlement agreement, treating it as part of the Court's order. The settlement binds both parties and specifies consequences for non-compliance, including revival of the underlying decree. No order was made regarding costs."
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