India

India

NO. Year of initiation Short case name Full case name Applicable IIA Arbitral rules Administering institution Summary Details of investment Outcome of original proceedings Respondent State Home State of investor Economic sector Economic subsector Arbitrators Amount claimed Amount awarded (or settled for) Breaches alleged Breaches found Decisions Individual opinions Follow-on proceeding type Follow-on proceeding status Follow-on decisions Follow-on individual opinions ICSID annulment committee members
1 2022 Devas v. India (II) CC/Devas (Mauritius) Ltd., Telcom Devas Mauritius Limited, and Devas Employees Mauritius Private Limited v. Republic of India (II) (PCA Case No. 2022-34) India - Mauritius BIT (1998) UNCITRAL PCA Investment:

Summary:
Pending India Mauritius Tertiary: J - Information and communication 61 - Telecommunications Zuleta, E. - President

Schill, S. - Claimant

Raghuram, G. - Respondent
Data not available Data not available Data not available Pending Data not available Data not available None None None None None
2 2021 Earlyguard v. India Earlyguard Limited v. India India - United Kingdom BIT (1994) Data not available Data not available Investment:

Summary:
Settled India United Kingdom Primary: B - Mining and quarrying 7 - Mining of metal ores Data not available Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Data not available Data not available None None None None None
3 2020 GPIX v. India GPIX LLC v. The Republic of India (PCA Case No. 2020-36) India - Mauritius BIT (1998) UNCITRAL PCA Investment:

Summary:
Pending India Mauritius Tertiary: H - Transportation and storage 52 - Warehousing and support activities for transportation Jones, D. - President

Blanch, J. - Claimant

Sikri, A. K. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
4 2020 Maxis and Global Communications v. India Maxis Communications Berhad and Global Communications Services Holdings Limited v. India India - Malaysia BIT (1995)

India - Mauritius BIT (1998)
UNCITRAL Data not available Investment:

Summary:
Pending India Malaysia

Mauritius
Tertiary: J - Information and communication 61 - Telecommunications Data not available Data not available Data not available Data not available Pending Data not available Data not available None None None None None
5 2019 Kowepo v. India Korea Western Power Company Limited v. India (PCA Case No. 2020-06) India - Korea, Republic of BIT (1996)

India - Korea, Republic of CEPA (2009)
UNCITRAL PCA Investment: Shareholding of 40% in Pioneer Gas Power Plant Limited (PGPL), the operator of a 388 MW project in the Raigad district in the Indian state of Maharashtra.

Summary:
Shareholding of 40% in Pioneer Gas Power Plant Limited (PGPL), the operator of a 388 MW project in the Raigad district in the Indian state of Maharashtra. Pending India Korea, Republic of Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Kalicki, J. E. - President

Stern, B. - Claimant

Hobér, K. - Respondent
400.00 mln USD Data not available Data not available Pending Data not available Data not available None None None None None
6 2017 Carissa v. India Carissa Investments LLC v. India India - Mauritius BIT (1998) UNCITRAL Data not available Investment:

Summary:
Discontinued India Mauritius Data not available Data not available McLachlan, C. A. - President

Hobér, K. - Claimant

Douglas, Z. - Respondent
50.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability Data not available Data not available None None None None None
7 2017 Nissan v. India Nissan Motor Co., Ltd. v. Republic of India (PCA Case No. 2017-37) India - Japan EPA (2011) UNCITRAL PCA Investment: 70 per cent share in Renault Nissan Automotive India Private Limited, a consortium that built an industrial automotive facility in Chennai, the capital of Tamil Nadu.

Summary: Claims arising out of non-payment of incentives by the Indian State government of Tamil Nadu, which had been allegedly promised to the claimant under the agreement for building of a car plant, signed with the State government in 2008.
70 per cent share in Renault Nissan Automotive India Private Limited, a consortium that built an industrial automotive facility in Chennai, the capital of Tamil Nadu. Settled India Japan Secondary: C - Manufacturing 29 - Manufacture of motor vehicles, trailers and semi-trailers Kalicki, J. E. - President

Hobér, K. - Claimant

Khehar, J. S. - Respondent
660.00 mln USD Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Umbrella clause
Not applicable - settled or discontinued before decision on liability Decision on Jurisdiction dated 29 April 2019 None Judicial review by national courts Pending (Judicial review by national courts) None None None
8 2017 Vodafone v. India (II) Vodafone Group Plc and Vodafone Consolidated Holdings Limited v. India (II) India - United Kingdom BIT (1994) UNCITRAL Data not available Investment: Ownership of an Indian telecoms company.

Summary: Claims arising out of a retrospective transaction tax imposed by the Government over claimants' acquisition of Indian-based Hutchison Whampoa telecoms business.
Ownership of an Indian telecoms company. Pending India United Kingdom Tertiary: J - Information and communication 61 - Telecommunications McLachlan, C. A. - President

Kaplan, N. - Claimant

Kohen, M. G. - Respondent
Data not available Data not available Data not available Pending None None None None None None None
9 2016 Astro and South Asia Entertainment v. India Astro All Asia Networks and South Asia Entertainment Holdings Limited v. India India - United Kingdom BIT (1994)

India - Mauritius BIT (1998)
UNCITRAL Data not available Investment: Investment in the Indian satellite TV company Sun Direct.

Summary: Claims arising out of an allegedly unfair and biased criminal investigation by the Government relating to the suspected bribery by the claimants of Indian government officials.
Investment in the Indian satellite TV company Sun Direct. Discontinued India United Kingdom

Mauritius
Tertiary: J - Information and communication 61 - Telecommunications Leaver, P. - Claimant

Moser, M. J. - President

Reed, L. - Respondent
Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Awards dated 8 October 2018 None None None None None None
10 2016 RAKIA v. India Ras-AI-Khaimah Investment Authority v. India India - United Arab Emirates BIT (2013) UNCITRAL Data not available Investment: Shareholding in ANRAK Aluminium Ltd ("ANRAK"), an Indian company incorporated to establish and operate an alumina and aluminium refinery and smelter in the state of Andhra Pradesh in South India.

Summary: Claims arising out of the alleged non-fulfillment and subsequent cancellation of a memorandum of understanding signed in 2007 between the Government of the Indian state of Andhra Pradesh and the claimant. In the memorandum, the state government agreed to direct a state-owned mining company to supply bauxite to ANRAK, a company in the claimant held shares, in order for ANRAK to operate an alumina and aluminium refinery and smelter.
Shareholding in ANRAK Aluminium Ltd ("ANRAK"), an Indian company incorporated to establish and operate an alumina and aluminium refinery and smelter in the state of Andhra Pradesh in South India. Decided in favour of State India United Arab Emirates Secondary: C - Manufacturing 24 - Manufacture of basic metals Hoffmann, L. - President

Rowley, J. W. - Claimant

Prasad, C. K. - Respondent
44.71 mln USD Data not available Data not available None - jurisdiction declined Award dated 11 May 2022 None None None None None None
11 2016 Vedanta v. India Vedanta Resources PLC v. The Republic of India (PCA Case No. 2016-05) India - United Kingdom BIT (1994) UNCITRAL PCA Investment: 59.9% shareholding in Cairn India Limited, one of the largest oil and gas exploration companies in India.

Summary: Claims arising out of a tax bill of approximately USD 3.29 billion, imposed by the Government on Cairn India Limited in 2015, for the alleged failure to pay taxes on capital gains arising from Cairn’s operations in 2006-2007.
59.9% shareholding in Cairn India Limited, one of the largest oil and gas exploration companies in India. Settled India United Kingdom Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Hwang, M. - President

Spigelman, J. - Claimant

McRae, D. M. - Respondent
3000.00 mln USD Data not available Data not available Not applicable - settled or discontinued before decision on liability None None None None None None None
12 2015 Cairn v. India Cairn Energy PLC and Cairn UK Holdings Limited v. The Republic of India (PCA Case No. 2016-7) India - United Kingdom BIT (1994) UNCITRAL PCA Investment: Interests in subsidiary Cairn UK Holdings Limited and 10 per cent shareholding in Cairn India Limited (CIL), one of the largest oil and gas exploration companies in India.

Summary: Claims arising out of a draft assessment order issued by the Indian Income Tax Department addressed to the claimant’s subsidiary, Cairn UK Holdings Limited, in respect of fiscal year 2006/7 in the amount of USD 1.6 billion plus any applicable interest and penalties; and the alleged prohibition for the claimant to sell its 10 per cent shareholding in Cairn India Limited.
Interests in subsidiary Cairn UK Holdings Limited and 10 per cent shareholding in Cairn India Limited (CIL), one of the largest oil and gas exploration companies in India. Decided in favour of investor India United Kingdom Primary: B - Mining and quarrying 6 - Extraction of crude petroleum and natural gas Lévy, L. - President

Alexandrov, S. A. - Claimant

Thomas, J. C. - Respondent
5584.39 mln USD 1232.82 mln USD Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Direct expropriation

Indirect expropriation

Transfer of funds
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Direct expropriation

Indirect expropriation

Transfer of funds
Final Award dated 21 December 2020 None Judicial review by national courts Award/decision set aside in its entirety (Judicial review by national courts) Judgment of The Hague Court of Appeal dated 21 December 2021 (Dutch) (Judicial review by national courts) None None
13 2014 LDA v. India Louis Dreyfus Armateurs SAS v. The Republic of India (PCA Case No. 2014-26) France - India BIT (1997) UNCITRAL PCA Investment: Shareholding in a joint venture with Indian port operator ABG Infralogistics to implement a project aimed at the mechanisation of berths at Haldia in West Bengal.

Summary: Claims arising out of a series of measures by the Indian Government that allegedly prevented the effective implementation of a joint venture related to a port modernization project at Haldia, in the city of Kolkota, in which the claimant held stakes; including allegedly failing to provide protection and security to the project, and to obey court orders concerning the removal of equipment from the port.
Shareholding in a joint venture with Indian port operator ABG Infralogistics to implement a project aimed at the mechanisation of berths at Haldia in West Bengal. Decided in favour of State India France Tertiary: H - Transportation and storage 52 - Warehousing and support activities for transportation Kalicki, J. E. - President

Lew, J. D. M. - Claimant

Thomas, J. C. - Respondent
36.00 mln USD Data not available Full protection and security, or similar None - all claims dismissed at the merits stage Decision on Jurisdiction dated 22 December 2015

Award dated 11 September 2018
None None None None None None
14 2014 Vodafone v. India (I) Vodafone International Holdings BV v. India (I) (PCA Case No. 2016-35) India - Netherlands BIT (1995) UNCITRAL PCA Investment: Ownership of an Indian telecoms company.

Summary: Claims arising out of a retrospective transaction tax imposed by the Government over claimant's acquisition of Indian-based Hutchison Whampoa telecoms business.
Ownership of an Indian telecoms company. Decided in favour of investor India Netherlands Tertiary: J - Information and communication 61 - Telecommunications Fortier, L. Y. - Claimant

Lahoti, R. C. - Respondent (replaced)

Oreamuno Blanco, R. - Respondent

Berman, F. - President
Data not available Non-pecuniary relief Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Award dated 25 September 2020 None Judicial review by national courts Pending (Judicial review by national courts) None None None
15 2013 Deutsche Telekom v. India Deutsche Telekom AG v. The Republic of India (PCA Case No. 2014-10) Germany - India BIT (1995) UNCITRAL PCA Investment: Indirect shareholding (20 per cent stake via a Singaporean subsidiary) in the Indian company Devas Multimedia, that had concluded contracts with Antrix -related to the Indian Space Research Organisation- for the launch and operation of two satellites.

Summary: Claims arising out of the Government's cancellation of a contract concluded with Devas, a company in which the claimant held interests, concerning the provision of broadband services to Indian consumers.
Indirect shareholding (20 per cent stake via a Singaporean subsidiary) in the Indian company Devas Multimedia, that had concluded contracts with Antrix -related to the Indian Space Research Organisation- for the launch and operation of two satellites. Decided in favour of investor India Germany Tertiary: J - Information and communication 61 - Telecommunications Kaufmann-Kohler, G. - President

Price, D. M. - Claimant

Stern, B. - Respondent
270.00 mln USD 93.30 mln USD Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Direct expropriation

Indirect expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Interim Award dated 13 December 2017

Final Award dated 27 May 2020
None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Judgment of the Swiss Federal Supreme Court dated 11 December 2018 (Judicial review by national courts) None None
16 2013 KHML v. India Khaitan Holdings Mauritius Limited v. India (PCA Case No. 2018-50) India - Mauritius BIT (1998) UNCITRAL PCA Investment: Minority shareholding (27 per cent) in Loop Telecom, a telecommunications company that held twenty one 2G licences in India.

Summary: Claims arising out of the cancellation by India's Supreme Court of a telecoms licence held by a company in which the claimant had invested, and its reassignment through a public auction process.
Minority shareholding (27 per cent) in Loop Telecom, a telecommunications company that held twenty one 2G licences in India. Pending India Mauritius Tertiary: J - Information and communication 61 - Telecommunications Xavier, F. - Claimant (replaced)

Stern, B. - Respondent

McLachlan, C. A. - President

Rowley, J. W. - Claimant
1400.00 mln USD Data not available Data not available Pending Decision on Jurisdiction dated December 2021 Dissenting Opinion by Brigitte Stern Judicial review by national courts Pending (Judicial review by national courts) None None None
17 2012 Devas v. India (I) CC/Devas (Mauritius) Ltd., Devas Employees Mauritius Private Limited, and Telcom Devas Mauritius Limited v. Republic of India (I) (PCA Case No. 2013-09) India - Mauritius BIT (1998) UNCITRAL PCA Investment: Shareholding in Devas Multimedia Private Limited, an Indian company that had concluded a telecommunication contract with an Indian state entity under the control of the Indian Space Research Organization.

Summary: Claims arising out of the alleged Government's cancellation of an agreement to lease capacity in the S-Band, part of the electromagnetic spectrum, for claimants' subsidiary to launch two satellites to provide multimedia services to mobile users across India.
Shareholding in Devas Multimedia Private Limited, an Indian company that had concluded a telecommunication contract with an Indian state entity under the control of the Indian Space Research Organization. Decided in favour of investor India Mauritius Tertiary: J - Information and communication 61 - Telecommunications Lalonde, M. - President

Haigh, D. - Claimant

Orrego Vicuña, F. - Claimant (replaced)

Singh, A. D. - Respondent
580.00 mln USD 111.30 mln USD Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Most-favoured nation treatment

Arbitrary, unreasonable and/or discriminatory measures

Transfer of funds
Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Award on Jurisdiction and Merits dated 25 July 2016

Award on Quantum dated 13 October 2020
Dissenting Opinion of David R. Haigh

Dissenting Opinion by Anil Dev Singh
Judicial review by national courts

Judicial review by national courts
Award/decision upheld (Judicial review by national courts)

Award/decision upheld (Judicial review by national courts)
Judgment of The Hague District Court dated 14 November 2018 (Judicial review by national courts)

Judgment of The Hague Court of Appeal dated 16 February 2021 (Dutch) (Judicial review by national courts)

Judgment of the Supreme Court of the Netherlands dated 3 February 2023 (Dutch) (Judicial review by national courts)

Judgment of The Hague District Court dated 25 October 2023 (Dutch) (Judicial review by national courts)
None None
18 2012 Naumchenko and others v. India Maxim Naumchenko, Andrey Poluektov and Tenoch Holdings Limited v. The Republic of India (PCA Case No. 2013-23) India - Russian Federation BIT (1994)

Cyprus - India BIT (2002)
UNCITRAL PCA Investment: Majority shareholding in the Indian telecoms company ByCell India.

Summary: Claims arising out of the withdrawal by Indian authorities of an approval to grant frequency allocation licences to claimants' local telecoms company ByCell, after it had previously obtained clearance from India's Foreign Investment Board.
Majority shareholding in the Indian telecoms company ByCell India. Decided in favour of State India Russian Federation

Cyprus
Tertiary: J - Information and communication 61 - Telecommunications Sepúlveda Amor, B. - President

Brower, C. N. - Claimant

Stern, B. - Respondent
400.00 mln USD Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Arbitrary, unreasonable and/or discriminatory measures
None - all claims dismissed at the merits stage Award dated July 2019 None None None None None None
19 2010 White Industries v. India White Industries Australia Limited v. The Republic of India Australia - India BIT (1999) UNCITRAL None Investment: Rights under certain contract concluded with a State-owned mining company, a bank guarantee and an ICC award rendered in White Industries' favour.

Summary: Claims arising out of alleged judicial delays by the Government of India that left the claimant unable to enforce an ICC award for over nine years concerning a contractual dispute with Coal India, a State-owned mining entity.
Rights under certain contract concluded with a State-owned mining company, a bank guarantee and an ICC award rendered in White Industries' favour. Decided in favour of investor India Australia Primary: B - Mining and quarrying 5 - Mining of coal and lignite Rowley, J. W. - President

Brower, C. N. - Claimant

Lau, C. - Respondent
8.70 mln AUD (8.80 mln USD) 4.10 mln AUD (4.10 mln USD) Indirect expropriation

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Most-favoured nation treatment

Transfer of funds

Other
Most-favoured nation treatment

Other
Final Award dated 30 November 2011 None None None None None None
20 2004 ABN Amro v. India ABN Amro N.V. v. Republic of India India - Netherlands BIT (1995) UNCITRAL None Investment: Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India.

Summary: Claims arising out of respondent's alleged failure to protect the investor's loans in the Dabhol combined cycle power plant project in India, the default of which resulted in significant losses to the claimant's financing of the failed project.
Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India. Settled India Netherlands Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Schreuer, C. H. - Unknown

Greenwood, C. - Unknown

Name not available - President
42.80 mln USD Non-pecuniary relief Data not available Not applicable - settled or discontinued before decision on liability Data not available Data not available Data not available Data not available Data not available Data not available Data not available
21 2004 ANZEF v. India ANZEF Ltd. v. Republic of India India - United Kingdom BIT (1994) UNCITRAL None Investment: Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India.

Summary: Claims arising out of respondent's alleged failure to protect the investor's loans in the Dabhol combined cycle power plant project in India, the default of which resulted in significant losses to the claimant's financing of the failed project.
Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India. Settled India United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Schreuer, C. H. - Unknown

Greenwood, C. - Unknown

Name not available - President
42.80 mln USD Non-pecuniary relief Data not available Not applicable - settled or discontinued before decision on liability Data not available Data not available Data not available Data not available Data not available Data not available Data not available
22 2004 BNP Paribas v. India BNP Paribas v. Republic of India France - India BIT (1997) UNCITRAL None Investment: Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India.

Summary: Claims arising out of respondent's alleged failure to protect the investor's loans in the Dabhol combined cycle power plant project in India, the default of which resulted in significant losses to the claimant's financing of the failed project.
Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India. Settled India France Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Schreuer, C. H. - Unknown

Greenwood, C. - Unknown

Name not available - President
42.80 mln USD Non-pecuniary relief Data not available Not applicable - settled or discontinued before decision on liability Data not available Data not available Data not available Data not available Data not available Data not available Data not available
23 2004 Credit Lyonnais v. India Credit Lyonnais S.A. (now Calyon S.A.) v. Republic of India France - India BIT (1997) UNCITRAL None Investment: Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India.

Summary: Claims arising out of respondent's alleged failure to protect the investor's loans in the Dabhol combined cycle power plant project in India, the default of which resulted in significant losses to the claimant's financing of the failed project.
Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India. Settled India France Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Schreuer, C. H. - Unknown

Greenwood, C. - Unknown

Name not available - President
42.80 mln USD Non-pecuniary relief Data not available Not applicable - settled or discontinued before decision on liability Data not available Data not available Data not available Data not available Data not available Data not available Data not available
24 2004 Credit Suisse v. India Credit Suisse First Boston v. Republic of India India - Switzerland BIT (1997) UNCITRAL None Investment: Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India.

Summary: Claims arising out of respondent's alleged failure to protect the investor's loans in the Dabhol combined cycle power plant project in India, the default of which resulted in significant losses to the claimant's financing of the failed project.
Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India. Settled India Switzerland Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Schreuer, C. H. - Unknown

Greenwood, C. - Unknown

Name not available - President
42.80 mln USD Non-pecuniary relief Data not available Not applicable - settled or discontinued before decision on liability Data not available Data not available Data not available Data not available Data not available Data not available Data not available
25 2004 Erste Bank v. India Erste Bank Der Oesterreichischen Sparkassen AG v. Republic of India Austria - India BIT (1999) UNCITRAL None Investment: Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India.

Summary: Claims arising out of respondent's alleged failure to protect the investor's loans in the Dabhol combined cycle power plant project in India, the default of which resulted in significant losses to the claimant's financing of the failed project.
Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India. Settled India Austria Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Data not available 42.80 mln USD Non-pecuniary relief Data not available Not applicable - settled or discontinued before decision on liability Data not available Data not available Data not available Data not available Data not available Data not available Data not available
26 2004 Offshore Power v. India Offshore Power Production C.V., Travamark Two B.V., EFS India-Energy B.V., Enron B.V., and Indian Power Investments B.V. v. Republic of India India - Netherlands BIT (1995) UNCITRAL None Investment: Majority shareholding, through subsidiary company, of the Indian Dabhol Power Company.

Summary: Claims arising out of respondent alleged failure to protect claimants' investment in the Dabhol power plant project in India, which resulted in significant losses to the claimants' financing of the failed project.
Majority shareholding, through subsidiary company, of the Indian Dabhol Power Company. Settled India Netherlands Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Lalonde, M. - Unknown

Cooke, L. - Unknown

Name not available - President
4000.00 mln USD Non-pecuniary relief Data not available Not applicable - settled or discontinued before decision on liability Data not available Data not available Data not available Data not available Data not available Data not available Data not available
27 2004 Standard Chartered Bank v. India Standard Chartered Bank v. Republic of India India - United Kingdom BIT (1994) UNCITRAL None Investment: Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India.

Summary: Claims arising out of respondent's alleged failure to protect the investor's loans in the Dabhol combined cycle power plant project in India, the default of which resulted in significant losses to the claimant's financing of the failed project.
Creditor of loans associated with the financing of the Dabhol energy project in Maharashtra, India. Settled India United Kingdom Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Schreuer, C. H. - Unknown

Greenwood, C. - Unknown

Name not available - President
42.80 mln USD Non-pecuniary relief Data not available Not applicable - settled or discontinued before decision on liability Data not available Data not available Data not available Data not available Data not available Data not available Data not available
28 2003 Bechtel v. India Bechtel Enterprises Holdings, Inc. and GE Structured Finance (GESF) v. The Government of India India - Mauritius BIT (1998) UNCITRAL None Investment: Shareholding in local corporations established to operate the Dabhol power project in the state of Maharashtra, India.

Summary: Claims arising out of an alleged reversal in the energy policy of the local government between the beginning of the power project in which the claimants invested and its intended consummation, as a result of political change in the Government.
Shareholding in local corporations established to operate the Dabhol power project in the state of Maharashtra, India. Settled India Mauritius Tertiary: D - Electricity, gas, steam and air conditioning supply 35 - Electricity, gas, steam and air conditioning supply Data not available 1200.00 mln USD 160.00 mln USD Data not available Not applicable - settled or discontinued before decision on liability Data not available Data not available None None None None None
NO. Year of initiation Short case name Full case name Applicable IIA Arbitral rules Administering institution Summary Details of investment Outcome of original proceedings Respondent State Home State of investor Economic sector Economic subsector Arbitrators Amount claimed Amount awarded (or settled for) Breaches alleged Breaches found Decisions Individual opinions Follow-on proceeding type Follow-on proceeding status Follow-on decisions Follow-on individual opinions ICSID annulment committee members
1 2023 Mittal v. Bosnia and Herzegovina Pramod Mittal, Sangeeta Mittal, Vartika Mittal, Shristi Mittal and Divyesh Mittal v. Bosnia and Herzegovina Bosnia and Herzegovina - India BIT (2006) UNCITRAL Data not available Investment: Investment in Global Ispat Koksna Industrija d.o.o. Lukavac (“GIKIL”), a producer of metallurgical coke.

Summary:
Investment in Global Ispat Koksna Industrija d.o.o. Lukavac (“GIKIL”), a producer of metallurgical coke. Pending Bosnia and Herzegovina India Secondary: C - Manufacturing 19 - Manufacture of coke and refined petroleum products Data not available Data not available Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Indirect expropriation
Pending Data not available Data not available None None None None None
2 2020 Binani v. North Macedonia (II) Gokul Das Binani and Madhu Binani v. Republic of North Macedonia (II) India - North Macedonia (2008) UNCITRAL Data not available Investment: Concessions to mine lead and zinc held by a local subsidiary, Indo Minerals & Metals, part of the Binani Group of Industries.

Summary: Claims arising out of the Government’s alleged expropriation of the claimants’ mining concessions and their reassignment to another company by auction.
Concessions to mine lead and zinc held by a local subsidiary, Indo Minerals & Metals, part of the Binani Group of Industries. Pending North Macedonia India Primary: B - Mining and quarrying 7 - Mining of metal ores Data not available 224.00 mln USD Data not available Data not available Pending Data not available Data not available None None None None None
3 2020 Patel v. Mozambique Patel Engineering Limited v. The Republic of Mozambique (PCA Case No. 2020-21) India - Mozambique BIT (2009) UNCITRAL PCA Investment: Investments in a project to construct a railway line and develop a new port at the Zambezia coast through a planned public-private partnership.

Summary: Claims arising out of the decision of the Transport and Communications Ministry to conduct a public tender for a concession allegedly promised to the claimant under a 2011 memorandum of interest between the ministry and the claimant; the concession was subsequently awarded to a third party.
Investments in a project to construct a railway line and develop a new port at the Zambezia coast through a planned public-private partnership. Pending Mozambique India Tertiary: F - Construction 42 - Civil engineering Fernández-Armesto, J. - President

Tawil, G. S. - Claimant

Perezcano Diaz, H. - Respondent
115.00 mln USD Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims Pending None None None None None None None
4 2018 Khadamat v. Saudi Arabia Khadamat Integrated Solutions Private Limited (India) v. The Kingdom of Saudi Arabia (PCA Case No. 2019-24) India - Saudi Arabia BIT (2006) UNCITRAL PCA Investment:

Summary:
Decided in favour of State Saudi Arabia India Data not available Data not available Schwartz, E. - President

Ferrari, F. - Claimant

Knieper, R. - Respondent
Data not available Data not available Data not available None - jurisdiction declined Award dated 7 February 2020 None None None None None None
5 2018 Simplex v. Libya Simplex Projects Ltd. v. Libya India - Libya BIT (2007) Data not available Data not available Investment: Investments in the construction of 2,000 residential housing units and related infrastructure in Libya under a contract with the Government.

Summary: Claims arising out of the suspension of the claimant’s operations due to civil unrest in Libya since February 2011, after the claimant had been awarded a contract by the Government for a housing development project and started construction activities in 2009.
Investments in the construction of 2,000 residential housing units and related infrastructure in Libya under a contract with the Government. Discontinued Libya India Tertiary: F - Construction 41 - Construction of buildings Reed, L. - President

Schill, S. - Claimant

Douglas, Z. - Respondent
Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Termination Order dated 23 July 2021 None None None None None None
6 2017 Aggarwal and others v. Bosnia and Herzegovina Naveen Aggarwal, Neete Gupta, and Usha Industries, Inc. v. Bosnia and Herzegovina Bosnia and Herzegovina - India BIT (2006) UNCITRAL Data not available Investment: Majority shareholding in Krajina osiguranje a.d. Banja Luka (“Krajina”), a local partly State-owned insurance company.

Summary: Claims arising out of the alleged freeze of the claimants’ shareholding in the insurance company Krajina and other actions allegedly taken by Bosnian regulatory agencies to prevent the claimants from exercising their majority ownership rights in Krajina, after the claimants had accused the Bosnian authorities of fraudulent misrepresentations in the offering prospectus on which they had relied when purchasing the shares.
Majority shareholding in Krajina osiguranje a.d. Banja Luka (“Krajina”), a local partly State-owned insurance company. Decided in favour of State Bosnia and Herzegovina India

United States of America
Tertiary: K - Financial and insurance activities 65 - Insurance, reinsurance and pension funding, except compulsory social security Hanotiau, B. - President

Laird, I. A. - Claimant

Cremades, B. M. - Respondent
40.00 mln USD Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

National treatment

Most-favoured nation treatment

Indirect expropriation
Data not available Award dated 2020 None None None None None None
7 2017 Binani v. North Macedonia (I) Gokul Das Binani and Madhu Binani v. Republic of North Macedonia (I) (PCA Case No. 2018-38) India - North Macedonia (2008) UNCITRAL PCA Investment: Concessions to mine lead and zinc held by a local subsidiary, Indo Minerals & Metals, part of the Binani Group of Industries.

Summary: Claims arising out of the Government’s alleged expropriation of the claimants’ mining concessions and their reassignment to another company by auction.
Concessions to mine lead and zinc held by a local subsidiary, Indo Minerals & Metals, part of the Binani Group of Industries. Discontinued North Macedonia India Primary: B - Mining and quarrying 7 - Mining of metal ores Adekoya, O. - President

Volterra, R. - Claimant

Stern, B. - Respondent
Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Award dated 17 February 2020 None Judicial review by national courts Award/decision upheld (Judicial review by national courts) Judgment of the Swiss Federal Tribunal dated 1 October 2020 (French) (Judicial review by national courts) None None
8 2017 Patel v. Mauritius Patel Engineering Ltd. v. Republic of Mauritius India - Mauritius BIT (1998) UNCITRAL PCA Investment:

Summary:
Pending Mauritius India Tertiary: L - Real estate activities 68 - Real estate activities Data not available Data not available Data not available Data not available Pending Data not available Data not available None None None None None
9 2015 IMFA v. Indonesia Indian Metals & Ferro Alloys Ltd v. Republic of Indonesia (PCA Case No. 2015-40) India - Indonesia BIT (1999) UNCITRAL PCA Investment: Investments in PT SRI, a local Indonesian company holding a coal mining concession.

Summary: Claims arising out of alleged overlaps between the claimants’ coal mining permits and those of other companies, resulting in conflicting rights to mine coal in the same territory.
Investments in PT SRI, a local Indonesian company holding a coal mining concession. Decided in favour of State Indonesia India Primary: B - Mining and quarrying 5 - Mining of coal and lignite Kaplan, N. - President

Spigelman, J. - Claimant

Sornarajah, M. - Respondent
99.30 mln USD Data not available Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Full protection and security, or similar

Arbitrary, unreasonable and/or discriminatory measures

Indirect expropriation

Transfer of funds
None - all claims dismissed at the merits stage Award dated 29 March 2019 None None None None None None
10 2014 Flemingo DutyFree v. Poland Flemingo DutyFree Shop Private Limited v. Republic of Poland India - Poland BIT (1996) UNCITRAL PCA Investment: Indirect 80.68% shareholding in BH Travel Retail Poland Sp. z o.o. (“BH Travel”), which held certain lease agreements for retail stores at Warsaw Chopin Airport.

Summary: Claims arising out of the Polish Airports State Enterprise’s termination of lease agreements for retail stores at Warsaw Chopin Airport entered into with BH Travel, a duty-free operator in which the claimant held indirect interests.
Indirect 80.68% shareholding in BH Travel Retail Poland Sp. z o.o. (“BH Travel”), which held certain lease agreements for retail stores at Warsaw Chopin Airport. Decided in favour of investor Poland India Tertiary: G - Wholesale and retail trade; repair of motor vehicles and motorcycles 47 - Retail trade, except of motor vehicles and motorcycles van Houtte, H. - President

Townsend, J. M. - Claimant

Kühn, W. - Respondent
81.60 mln EUR (91.10 mln USD) 17.90 mln EUR (20.00 mln USD) Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Indirect expropriation
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Indirect expropriation
Award dated 12 August 2016 None None None None None None
11 2006 Sancheti v. UK Ashok Sancheti v. United Kingdom India - United Kingdom BIT (1994) UNCITRAL None Investment: Lease of a commercial space owned by the city of London.

Summary: Claims arising out of the increase in the rent price for the investor's lease of a commercial space owned by the city of London.
Lease of a commercial space owned by the city of London. Data not available United Kingdom India Tertiary: N - Administrative and support service activities 77 - Rental and leasing activities Rezek, F. - President

Banerjee, U. C. - Claimant

Reisman, W. M. - Respondent

Lowe, V. - Respondent (replaced)
Data not available Data not available Data not available Data not available Data not available Data not available None None None None None
12 2000 Sancheti v. Germany Ashok Sancheti v. Germany Germany - India BIT (1995) Data not available Data not available Investment: Data not available

Summary: Data not available
Data not available Settled Germany India Data not available Data not available Data not available Data not available Data not available Data not available Not applicable - settled or discontinued before decision on liability Data not available Data not available Data not available Data not available Data not available Data not available Data not available