RBI opposes terms of $1.18-billionTata-Docomo accord in Delhi High Court

Following the RBI’s objection to the settlement terms between Tata Sons and DoCoMo on Wednesday, the Delhi high court asked the apex bank whether it has the power to overrule an global arbitral award and whether its permission is even required when Tata Sons is willing to pay the money. Both companies in a joint filing to the court last week had said that they want an out-of-court-settlement and were ready with blueprint of a mutual agreement.