Page 5 - Vantrix Corp News Today

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...

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...

Two separate cases to enforce arbitration awards—one initiated by British oil firm Cairn Energy Plc and the other by three Mauritius-incorporated entities in their dispute with Indian government-owned Antrix Corp.—are at different stages in courts

ADVERTISEMENT ADVERTISEMENT Indian Judge Nixes Bid To Shut Down Devas Liquidation Law360 (April 28, 2021, 8:37 PM EDT) -- An Indian court has rejected a bid to shut down the government-authorized liquidation of Devas Multimedia Pvt. Ltd., an Indian satellite company thats attempting to enforce a nearly $1.3 billion arbitral award against a division of the countrys space agency. Ruling for the High Court Of Karnataka at Bengaluru, Judge P.S.Dinesh Kumar concluded on Wednesday that Devas shareho...

Deutsche Telekom petitions US court to enforce $1.2 billion arbitration award against Antrix SECTIONS Share Synopsis The telecom company has argued that India had never challenged the final award by Geneva-based ICC and the deadline for it to do so under Swiss law has passed iStock Picture for representation purpose only Deutsche Telekom has petitioned a US court asking it to enforce a $1.2 billion compensation award against Antrix Corp, the commercial arm of India’s space agency, for cancell...

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...

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.

Govt asks Antrix to file petition to wind up Devas Multimedia SECTIONS Last Updated: Jan 18, 2021, 08:16 PM IST Share Synopsis The Ministry of Corporate Affairs has cited a rule in the Companies Act, 1956 that allows a petitioner to file for the winding up of a company if it has, in the petitioner’s opinion, been formed for “fraudulent and unlawful purposes”. Getty Images BENGALURU: The government has directed Antrix Corporation, the commercial arm of Indias space agency, to file a petiti...

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...