Updated:
Share Article
AAA
The High Court of Karnataka has imposed a cost of ₹5 lakh on Devas Employees’ Mauritius Pvt. Ltd. (DEMPL) for filling a petition “abusing process of law and as a proxy war” on behalf of Devas Multimedia Pvt. Ltd., which is facing money-laundering and other charges on its alleged fraudulent agreement on bandwidth facilities with ISRO’s commercial arm Antrix Corporation.
Justice P.S. Dinesh Kumar passed the order while dismissing the DESPL’s petition questioning the legality of the sanction granted by the Central government on January 18, 2021 for Antrix Corporation to initiate winding up proceedings against Devas.
April 29, 2021
The Internet Corporation for Assigned Names and Numbers (ICANN) announced yesterday that has begun the De-Accredited Registrar Transition Procedure (DARTP) to help transfer current Net4 India domain registrants to another ICANN-accredited registrar that is in good standing. ICANN had initially announced in February that Net 4 India’s registrar accreditation agreement (RAA) will be terminated on March 13 due to multiple complaints against the registrar, but the National Company Law Tribunal (NCLT) stayed this termination after Net 4 India’s appeal. The stay was finally lifted on April 27, allowing ICANN to initiate the next step.
Net4 India has been embroiled in bankruptcy proceedings for years now, leaving customers unable to renew or transfer their domains. ICANN tried processing complaints by liaising with a tribunal-appointed resolution professional but made no headway. ICANN has said that multiple issues including non-payment of dues were brought to Net4 Ind
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 cancelling a satellite contract with Devas Multimedia, in which the German telecom company is a strategic shareholder.
Deutsche Telekom has sought that India pay its share of $135 million in damages in the case where the US federal court for the western district of Washington had last October upheld the International Chamber of Commerce’s arbitration award of over $1.2 billion ($562 million plus interest) in 2015.
Insolvency Of Personal Guarantors To Companies: An Atmosphere Of Uncertainty livelaw.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livelaw.in Daily Mail and Mail on Sunday newspapers.
India Gate. Photo: Abhidev Vaishnav/unsplash
April 26, 2021
The second covid wave is going to impact the recovery of many sectors, including real estate. The commercial real estate sector, especially grade A offices, has shown resilience over the past year with good occupancy and rent recovery levels. But the second wave may hit growth prospects as companies may go slow on expansion plans as work from home continues. This may impact the performance of real estate investment trusts (Reits), which invest the majority of their assets in rent-generating commercial real estate, at least in the short term. Michael Holland, CEO, Embassy Reit, spoke to