AST Court India Investment Treaty Case

Published on: Feb 3, 2025

On Jan. 31, AST Court ruled in favor of India in $740mn appeal case.

  • AST Court issued Republic of India v CCDM holdings, LLC about a dispute re $740mn in connection with investor-State arbitration under a bilateral investment treaty.
  • This case is an appeal by Republic of India from CCDM Holdings, LLC v Republic of India (no 3) of Oct. 24, 2023; judge allowed appeal and set aside Oct. 24, judgment.
  • Dispute involved a quantum award in Oct. 2020 of $740mn against Republic of India.
  • Appeal Case Highlights
  • Appeal case relates to incorporated Mauritian investors; India and Mauritius concluded a bilateral investment treaty, which included mutual promises that the contracting parties would treat investors of the other contracting party fairly and equitably.
  • In addition, subject to exceptions, not nationalize/expropriate their investments.
  • Judge, in appeal case, said India’s interlocutory application to set aside originating application on basis that India is immune from the proceeding should have succeeded.
Regulators
AST Court; Lawsuit
Entity Types
IA; Inv Co
Reference
LR [2025] FCAFC 2, NSD 1306/2023, 1/31/2025
Functions
Financial; Legal; Market Conduct; Treasury
Countries
Australia; India; Cross-Border
Category
National Regulator
State
N/A
Products
Fund Mgt
Rule Type
Enforcement
Regions
AP
Rule Date
Jan 31, 2025
Effective Date
Jan 31, 2025
Rule ID
242070
Linked to
N/A
Reg. Last Update
Jan 31, 2025
Report Section
AML & Enforcement