Page 10 - Devas Multimedia News Today

The Bengaluru-based company has been engaged in a decade-long legal tussle with ISRO’s commercial arm Antrix. A detailed verdict is likely to be uploaded by the afternoon.

A Supreme Court bench headed by Chief Justice of India (CJI) N V Ramana on Monday expressed unhappiness over repeated disruptions during virtual hearings due to the use of mobile phones by several advocates, and said it may have to ban participation through mobiles. A bench comprising the CJI and justices A S Bopanna and Hima Kohli was unhappy over the fact that it had to

The NCLT's direction came over a petition filed by Antrix Corporation, the commercial arm of the Indian Space Research Organisation (ISRO).

The Supreme Court on Monday upheld the National Company Law Appellate Tribunal order, passed in September last year, directing for winding up of Devas Multimedia, which made it a first case of winding up a company on ground of fraud.A bench of ...

The Supreme Court on Monday upheld the National Company Law Appellate Tribunal order, passed in September last year, directing for winding up of Devas Multimedia, which made it a first case of winding up a company on ground of fraud.

The Supreme Court on Monday said if the seeds of the commercial relationship between the Antrix Corporation and Devas Multimedia, were a product of fraud perpetrated by latter, "then the plant which grew out of those seeds was infected ...

Supreme Court has held that it is not possible for the top court "to set aside the order of winding up, on the sole ground that the shareholders application for impleadment as well as the appeal were rejected wrongly"

The Supreme Court on Monday said if the seeds of the commercial relationship between the Antrix Corporation and Devas Multimedia, were a product of fraud perpetrated by latter, then the plant which grew out of those seeds was infected with poison of fraud, as it upheld the NCLT order, directing the firms winding up.

The Modi government was wise to settle with Cairn because it is futile to continue evading payment on arbitral awards that have been upheld in every instance," a Devas Multimedia spokesperson told Business Today.

"India has assets like this all over the world. This is just the beginning. We're planning many more seizures," said Jay Newman, senior adviser to Devas Shareholders.