This paper seeks to highlight the current status quo of the space law legislations and throws a light on its efficacy. It also tries to answer the debatable question of sovereignty through analysis of several treaties. The next part of the paper provides a piece of critique on the governing regulations. The paper in its next part deals with issues such as Militarisation, Star wars Asteroid mining and various facets of space terrorism that have emerged as latest challenges in the recent times. The paper concludes with certain sets of recommendations that entirely that can be used to harmonize the current regulation and decelerate the rate of ambiguity involved.

The paper discusses international jurisprudence in the regime of transboundary harm. Principles of good neighbourliness, due diligence and precaution are major guidelines forwarded by international jurisprudence dealing with trans-boundary problems. The paper examines the current status quo of customary and conventional international law that acts as a tool to combat trans-boundary harm. The paper ponders into the issues of territorial sovereignty, doctrine of necessity and conventional obligations to prevent transboundary harm making extensive use of the judicial and arbitral decisions to throw light on the existing regulations and obligation. The paper concludes that effects of customs, conventions, treaties and other international instruments have led to establishment of effective mechanism to determine the liability and the quantum of liability.

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