Page 16 - Devas Multimedia News Today

Antrix challenges restraining order by US court April 04, 2021 ISRO’s commercial arm Antrix Corp has filed a petition with a US District Court in Washington seeking to revoke a temporary restraining order (TRO) against a possible settlement in the dispute with Devas Multimedia. Antrix has argued that the possibility of such a settlement was hypothetical at this point in time and secondly, the settlement, if any, will have to be first approved by an Indian court. The US court had given a te...

Bulk of commercial activities would be handled by New Space India Limited

Investors in Devas Multimedia Pvt. Ltd. demanded on Tuesday that an Indian government-appointed liquidator relinquish case files he obtained after firing counsel working to enforce the Indian satellite company's $1.3 billion arbitral award against a division of India's space agency.

A division of India's space agency fighting enforcement of a nearly $1.3 billion arbitral award issued to an Indian satellite company has orchestrated a "government occupation" of its foe in an attempt to force a collusive settlement agreement, investors in the company are arguing.

Investment Arbitration and India: 2020 Year in Review Thursday, February 25, 2021 For the Indian foreign direct investment landscape, 2020 was a mixed bag of equity inflows, policy changes, arbitration awards and innovative dispute resolution strategies. In September 2020, FDI equity inflows in India crossed the USD 500 billion milestone, computed over a period of 20 years starting from April 2000. 1 While global FDI witnessed a steep decline of 42%, India noted a 13% increase in FDI ...

India’s offer to Cairn in $1.4-bn arbitration battle: ‘Pay half the dues and move on’ FE Bureau © Provided by The Financial Express In its December 2020 ruling, the Permanent Court of Arbitration at The Hague invalidated India’s $2.74-billion 2015 tax claim on Cairn Energy. Discussions between finance ministry officials and Cairn Energy CEO Simon Thomson-and his team-continued for the second day on Friday, but it appears the government wants Cairn to settle the disput...

Rational Expectations: Risking seizure of assets is a bad idea Sunil Jain © Provided by The Financial Express In which case, the only hope India has of getting the ruling reversed in the review is if it can prove mala fide in the award, and that is not going to be easy. It is not clear what Indias strategy is going to be when the UK-based Cairn Energys CEO Simon Thomson comes calling on finance minister Nirmala Sitharaman later this week, but if it is the same as the one adop...

The National Company Law Appellate Tribunal(NCLAT), Chennai Bench, has refused to entertain an appeal filed by Devas Mauritius Employees Private Ltd - a shareholder of Devas Multimedia Private Ltd -...

NCLT admits Antrix Corporations winding up plea for Devas Multimedia, appoints liquidator SECTIONS Last Updated: Jan 24, 2021, 02:58 PM IST Share Synopsis The tribunal has also directed the existing management of Devas Multimedia to extend full cooperation to the provisional liquidator appointed by it. The NCLT has posted the matter on February 8 for further hearing into the matter. New Delhi: The National Company Law Tribunal (NCLT) has admitted the petition filed by Antrix Corporation, the ...

The National Company Law Tribunal, Bengaluru, on Tuesday admitted the petition filed by Indian Space Research Organizations commercial arm Antrix Corporation Ltd to wind up Devas Multimedia under Sections 271 and 272 of the Companies Act 2013. Antrix Corporation sought the winding up of Devas Multimedia on the grounds that the Bengaluru-based companys affairs were being have been conducted in a "fraudulent manner", "the company was formed for fraudulent and unlawful purpose", "the persons conce...