In Brief
Aastha Broadcasting Network Limited and Thaicom Public Company Ltd. settled a long-running arbitration dispute dating back to 2003. The parties had engaged in a satellite space-segment services agreement, leading to an arbitral award in Thaicom's favour for USD 10,16,603.78, which Aastha had unsuccessfully challenged through the Delhi High Court and then petitioned the Supreme Court. During the Supreme Court proceedings, both parties negotiated and executed a comprehensive Memorandum of Settlement on 13 October 2017, under which Aastha agreed to pay USD 3,75,000 as full and final settlement, inclusive of all claims. The Supreme Court accepted the settlement and disposed of the appeal accordingly.
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