Page 14 - Devas Multimedia News Today

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Devas tries to seize foreign assets of Air India Top Searches Devas tries to seize foreign assets of Air India Bloomberg / Updated: Jun 30, 2021, 08:00 IST FacebookTwitterLinkedinEMail NEW DELHI: Devas Multimedia, a Bengaluru-based company seeking over $1.2 billion it won in international arbitration from the government, has joined Cairn Energy in seeking to seize Air India’s assets abroad. Calling the flagship airline an “alter ego” of the Indian state and therefore liable for the sover...

Devas seeks to seize Air India US assets to enforce Antrix arbitration award SECTIONS Last Updated: Jun 30, 2021, 08:54 AM IST Share Synopsis The litigation filed by Devas Multimedia in a US court stems from the cancellation of a satellite deal with ISRO’s Antrix Corp. in 2011 that culminated in the $1.2-billion arbitration award. Devas Multimedia is the second company after Cairn Energy to target the overseas assets of Air India in its bid to enforce an arbitration award on the government. B...

Antrix-Devas deal case: Ex-ISRO chief granted bail by court Antrix-Devas deal case: Ex-ISRO chief granted bail by court During The Proceedings, The CBI Informed The Court That Two Accused Could Not Be Served Summons As They Had Settled In The US, And The Process Was Still On To Execute The Summons To Them. PTI | Updated on: 23 Dec 2017, 12:33:40 PM New Delhi: Former ISRO chairperson G Madhavan Nair was today granted bail by a Delhi court in the sensational Antrix...

Courts in West tend to award punitive damages, which an Indian court may hold to be against public policy

NCLT directs liquidation of Devas Multimedia, accepts petition by ISROs Antrix Corp Devas Multimedia: NCLT directs liquidation, accepts petition by ISROs Antrix Corp The National Company Law Tribunal (NCLT) has directed to initiate the liquidation process of Devas Multimedia by allowing the petition filed by Antrix Corporation, a commercial arm of the Indian Space Research Organisation. The Bengaluru bench of the NCLT has said Devas Multimedia was incorporated with a fraudulent motive to collud...

The Bengaluru bench of the tribunal recently allowed the winding-up by allowing a petition filed by the Indian Space Research Organisations commercial arm Antrix Corporation Ltd.The

NCLT allows petition by Antrix Corporation, a commercial arm of ISRO

The Bengaluru bench of the NCLT has said Devas Multimedia was incorporated with a fraudulent motive to collude and connive with the then officials of Antrix Corporation

The Bengaluru bench of the NCLT has said Devas Multimedia was incorporated with a fraudulent motive to collude and connive with the then officials of Antrix Corporation to get bandwidth from it by entering into an agreement in 2005, which was subsequently cancelled by the government.