Page 9 - Vantrix Corp News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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. Bengaluru:Devas Multimedia Pvt. Ltd. has filed a petition in a New York court seeking to seize the a...

NCLT directs liquidation of Devas Multimedia, accepts petition by ISRO's Antrix Corp Devas Multimedia: NCLT directs liquidation, accepts petition by ISRO's 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 collude and connive with the then officials of Antrix Corporation to get bandwidth from it by entering i...

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 that's attempting to enforce a nearly $1.3 billion arbitral award against a division of the country's space agency. Ruling for the High Court Of Karnataka at Bengaluru, Judge P.S.Dinesh Kumar concluded on Wednesday that Devas shareholder Devas Employees Mauritius Pvt. Ltd. had failed to show how the "winding-up" petition filed in...

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 s...