Page 2 - Devas Multimedia Private News Today

Finance Minister Nirmala Sitharaman on Tuesday said the Government of India will use the Supreme Courts verdict to fight against Devas in Antrix deal fraud internationally.

The Supreme Court on Monday dismissed an appeal filed by Devas Multimedia Private Limited challenging National Company Law Tribunal (NCLAT) order that allowed to wind up the company.

The order by a Canadian court to seize money collected by the International Air Transport Association (IATA) on behalf of Air India and the Airport Authority of India (AAI) marks the latest chapter in a long list of setbacks for Indian tax authorities in global courts of law.

We had mentioned in Friday’s closing report that Nifty and Sensex may head higher. On Monday, the indices opened gap up and ended with gain.

At the core of this dispute is a 2005 agreement between Antrix and Devas for the lease of satellite spectrum which was annulled in 2011 following a policy decision of the Indian government.

Antrix-Devas case: India to question US court jurisdiction January 17, 2021 Antrix should adopt a different tactic than merely fighting over jurisdiction: Experts India is expected to question the jurisdiction of the United States District Court for the District of Columbia to hear a petition filed by Devas Multimedia seeking to enforce the damages awarded against ISRO’s commercial arm Antrix Corp by the Permanent Court of Arbitration Tribunal at The Hague. The petition, filed by three invest...

Antrix case: Devas moves US court to enforce The Hague arbitration award January 15, 2021 × Devas Multimedia has filed a petition at a US district court seeking to enforce the damages awarded against ISRO’s commercial arm Antrix Corp by the Permanent Court of Arbitration Tribunal at The Hague. The petition, filed by three investment firms related to Devas, argues that the award can be enforced in the US because India is a signatory to the New York Convention. “By entering into the New York...