The Delhi High Court's Friday judgment clearing the Tata-Docomo transaction will have a far-reaching impact on similar cases where foreign investors are ooking to exit Indian joint ventures -- the cases where an overseas arbitration court has given an award in favour of a foreign investor.

Corporate lawyers said many private equity firms and insurance majors were looking to exit their investments in India and had signed similar agreements with agreed valuations but due to the Foreign Exchange Management Act, which bars predetermined valuations, they were stuck with their ...