2G verdict: Foreign companies can invoke investment treaties

The cancellation of the Unified Access Service Licence with 2G spectrum to telecom companies by the Supreme Court is celebrated as a triumph of the rule of law over jobbery and nepotism. Amidst this celebration, it is pertinent to understand the ramifications of the ruling. Since it affects foreign companies like Telenor of Norway, Sistema of Russia, and Etisalat of the UAE, there is a need to understand the outcome of the ruling on India’s international legal obligations contained in close to 80 bilateral investment treaties (BITs).

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