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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 -...
The National Company Law Tribunal, Bengaluru, on Tuesday admitted the petition filed by Indian Space Research Organization's 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 company's affairs were being have been conducted in a "fraudulent manner", "the company was formed for fraudulent and unlawful purpose", "the persons concerned in the formation or management of its affairs have been guilty of fraud, misfeasance or misco...