Business/Economy
RBI says it's still Tata to Docomo - Financial Express
The Reserve Bank of India (RBI) on Wednesday once again opposed the $1.17 billion settlement between Tata Sons and Japan’s NTT DoCoMo, leaving the fate of the payment to the Delhi High Court. Consistent with its stand, first in February 2015 and subsequently in July 2016, the RBI told the court Tata Sons cannot pay DoCoMO despite the London Court of International Arbitration (LCIA) award in June 2016 as it would amount to violating the Foreign Exchange Management Act.
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