The global arbitration tribunal ICC (International Chamber of Commerce) has awarded Tata Com to pay Globalcom Ltd (Reliance) a compensation of $19 million+ interest. The dispute was submitted by plaintiff party Globalcom Ltd (Reliance) (then known as FLAG) against Videsh Sanchar Nigam Ltd or VSNL (now Tata Communications). The plaintiff had pleaded that VSNL had not allowed it free access to its cable landing station and thereby having a monopolistic hold on bandwidth prices.

 

Subsequently, The Tribunal found Tata Com guilty and directed it to pay Reliance a sum of approximately US$19 million plus interest from May 2006 as damages. However, it is just a fraction of the claim that had been made by Reliance. Reliance had claimed for $385 million as compensation. ICC delivered its judgment on August 27, 2008. Tata Com has admitted that the final award has come from ICC proceedings. It seems there has not been any dispute on the award amount from Tata Com side.