The International Chamber of Commerce (ICC) awarded compensation worth $1.3 billion to Devas Multimedia, as mentioned in the text.

International Chamber of Commerce (ICC) awarded compensation to Devas Multimedia.

Explanation:
The correct answer is option 'B', which states that the International Chamber of Commerce (ICC) awarded compensation to Devas Multimedia amounting to $1.3 billion. Here is a detailed explanation:

1. Background:
Devas Multimedia, an Indian multimedia and telecommunications company, entered into an agreement with Antrix Corporation, the commercial arm of the Indian Space Research Organisation (ISRO), in 2005. The agreement aimed to use ISRO's satellites to provide multimedia services, such as broadband internet, to mobile devices in India.

2. Termination of Agreement:
In 2011, the Indian government terminated the agreement between Devas and Antrix due to allegations of irregularities in the contract. The termination was challenged by Devas, claiming wrongful termination and seeking compensation for damages.

3. Arbitration Proceedings:
Devas initiated arbitration proceedings against Antrix, seeking compensation for the wrongful termination of the agreement. The arbitration was conducted by the International Chamber of Commerce (ICC), a global business organization that provides a platform for resolving commercial disputes.

4. ICC's Decision:
After a thorough examination of the case, the ICC ruled in favor of Devas and awarded compensation amounting to $1.3 billion. The ICC's decision was based on the finding that the termination of the agreement was wrongful and that Devas had suffered significant damages as a result.

5. Significance of ICC's Decision:
The ICC's decision to award a substantial amount of compensation highlights the importance of honoring contractual obligations and conducting business in a fair and transparent manner. It sets a precedent for holding parties accountable for wrongful termination and ensuring that appropriate compensation is provided to the affected party.

6. Implications:
The compensation awarded by the ICC provides financial relief to Devas Multimedia, compensating them for the losses incurred due to the termination of the agreement. It also serves as a deterrent for other parties involved in commercial contracts, emphasizing the consequences of breaching contractual obligations.

Conclusion:
In conclusion, the International Chamber of Commerce (ICC) awarded compensation of $1.3 billion to Devas Multimedia as a result of the wrongful termination of their agreement with Antrix Corporation. This decision emphasizes the significance of upholding contractual obligations and serves as a precedent for future disputes in the commercial sector.