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Tata, Docomo Agree to Settle $1.17 Billion Payment Dispute

Bloomberg logoBloomberg 28-02-2017 Siddharth Philip and Upmanyu Trivedi

(Bloomberg) -- Tata Sons Ltd. and NTT Docomo Inc. told the Delhi High Court they have agreed to settle a more than two-year dispute over terms for the Japanese carrier’s sale of its stake in a joint wireless service venture between the two companies.

The court will consider the companies’ application for settling the dispute March 8, it said Tuesday in New Delhi. Tata and Docomo will not oppose intervention by India’s central bank, which had previously signaled it would not allow Tata to pay a $1.17 billion award approved by an arbitration court in London last year.

Ratan Tata, who briefly returned to the helm of India’s largest conglomerate last year, had restarted discussions with Docomo to resolve their dispute over the payment, following Cyrus Mistry’s ouster from Tata in October. The dispute between the two companies has lingered as the central bank has signaled the payment Docomo sought would violate foreign-investment rules.

NTT Docomo has been fighting Tata Sons over the right to sell its stake in their Indian wireless venture for at least 50 percent of the original investment, as per terms of the original agreement. The Japanese company had asked the Delhi High Court to enforce an order it won in June from the London Court of International Arbitration.

To contact the reporters on this story: Siddharth Philip in Mumbai at, Upmanyu Trivedi in New Delhi at

To contact the editors responsible for this story: Dave McCombs at, Subramaniam Sharma at

©2017 Bloomberg L.P.

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