New Delhi: The National Company Law Tribunal<\/a> (NCLT<\/a>) has admitted the petition filed by Antrix Corporation<\/a>, the commercial arm of Indian Space Research Organisation, for winding up Devas Multimedia<\/a> and has appointed a provisional liquidator for the company. A two-member NCLT Bengaluru bench of the NCLT has directed the provisional liquidator to take control of the management, properties and actionable claims of Devas Multimedia. 新德里:国家公司法法庭(NCLT)已经承认的请愿书Antrix公司印度空间研究组织的商业部门,进行清算提婆多媒体并为该公司已经任命了一个临时清盘人。一个带两NCLT班加罗尔的板凳NCLT指示的临时清盘人控制管理、属性和可操作的提婆多媒体的说法。
The tribunal has also directed the existing management of Devas Multimedia to extend full cooperation to the provisional liquidator appointed by it.
\"We admit the company petition and the respondents are granted time to file their replies,\" said an NCLT bench comprising Member Judicial Rajeswara Rao Vittanala and Member Technical Ashutosh Chandra, in its order passed on January 19.
The NCLT has posted the matter on February 8 for further hearing into the matter.
The government, through the Ministry of Corporate Affairs<\/a>, also supported the Antrix Corporation plea before the NCLT and pointed out towards the various documents filed in the case for winding up of Devas Multimedia.
MCA officials submitted that continuance of Devas Multimedia's name on the rolls of Registrar of Companies (RoC) was not warranted and should be wound up.
The counsel representing Devas Multimedia has asked for some more time to file reply and said a reasonable opportunity should be provided to make its representation.
They also submitted that the cause of action arose a long time back, there was no urgency in the present petition.
However, the NCLT after going through the submissions by Solicitor General Tushar Mehta and Additional Solicitor General N Venkatarama representing Antrix Corporation, said, in view of \"circumstance of the case, and the law on the issue, we are of the considered opinion that prima facie case is made out by the Petitioner in favour of granting interim order as prayed for.\"
\"Since the R1 Company (Devas) has suffered various adverse findings with cogent evidence at the hands of various statutory authorities... it would not be proper to permit R1 Company to continue its name on the rolls of Registrar of Companies, Bengaluru,\" it said.
Devas Multimedia was incorporated on December 17, 2004.
According to the petition, the then officials of Antrix Corporation including its the then chairman had executed contract dated January 28, 2005.
This was finally terminated on February 25, 2011, as it was obtained fraudulently in connivance of the then officials. The investigating agencies - CBI and Enforcement Directorate - have unearthed fraud in executing of the agreement, Antrix said.
CBI had later filed charge sheets and ED had initiated PMLA proceedings. Even the MCA had also initiated an investigation into the affairs of Devas Multimedia but a stay was granted by the Delhi High Court.
In its petition, Antrix Corporation submitted that it itself was a \"victim of the fraud and corruption\" to which its then chairman and other officials were a party, and on account thereof has suffered an arbitral award on September 14, 2015 running into more than half a billion dollars, which with interest, comes to more than a billion dollars today.
It has preferred an appeal before the High Court of Delhi, against the arbitral award.
Devas had applied for FIPB approvals for the investment of Rs 579 crore and the investment has resulted for activities for money laundering.
While Tushar Mehta submitted that project involved the use of a combination of technologies as satellite and terrestrial systems for providing SDMB Service.
\"It has now come on record that the technology necessary for providing these service was not even in existence at the time, the contract was awarded and was developed years later by the French scientists, who has patented it. Devas Multimedia did not even possess the necessary technology, when it as awarded contract on January 28, 2005,\" he submitted.<\/p><\/body>","next_sibling":[{"msid":80436036,"title":"Vivo S7t to come with Dimensity 820 processor soon, reveals report","entity_type":"ARTICLE","link":"\/news\/vivo-s7t-to-come-with-dimensity-820-processor-soon-reveals-report\/80436036","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[{"msid":"80433388","title":"Court1_BCCL","entity_type":"IMAGES","seopath":"news\/company\/corporate-trends\/nclt-admits-antrix-corporations-winding-up-plea-for-devas-multimedia-appoints-liquidator\/court1_bccl","category_name":"NCLT admits Antrix Corporation's winding up plea for Devas Multimedia, appoints liquidator","synopsis":"The NCLT has posted the matter on February 8 for further hearing into the matter. ","thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-248587\/80433388.cms?width=150&height=112","link":"\/image\/company\/corporate-trends\/nclt-admits-antrix-corporations-winding-up-plea-for-devas-multimedia-appoints-liquidator\/court1_bccl\/80433388"}],"msid":80441576,"entity_type":"ARTICLE","title":"NCLT admits Antrix Corporation's winding up plea for Devas Multimedia, appoints liquidator","synopsis":"The tribunal has also directed the existing management of Devas Multimedia to extend full cooperation to the provisional liquidator appointed by it. ","titleseo":"telecomnews\/nclt-admits-antrix-corporations-winding-up-plea-for-devas-multimedia-appoints-liquidator","status":"ACTIVE","authors":[],"analytics":{"comments":0,"views":186,"shares":0,"engagementtimems":817000},"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2021-01-25 08:00:27","lastupd":"2021-01-25 08:01:15","breadcrumbTags":["Antrix Corporation","National Company Law Tribunal","Devas Multimedia","nclt","ministry of corporate affairs","policy"],"secinfo":{"seolocation":"telecomnews\/nclt-admits-antrix-corporations-winding-up-plea-for-devas-multimedia-appoints-liquidator"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2021-01-25" data-index="article_1">
法庭也直接提婆的现有管理多媒体扩展全面合作指定的临时清盘人。
“我们承认公司的请愿书,受访者被授予时间文件回答,“说NCLT工作台组成成员司法Rajeswara Rao Vittanala技术Ashutosh钱德拉,成员的顺序通过1月19日。
政府通过公司事务部,也支持在NCLT Antrix公司申辩,对提交的各种文件中指出的绕组提婆多媒体。
MCA官员提交,延续卷上的提婆多媒体的名字注册的公司(RoC)并不是必要的,应该的。
律师代表提婆多媒体文件要求一些更多的时间来回复,说应该提供一个合理的机会使其表示。
他们还提交了,行动起来很长一段时间的原因,没有紧迫感在目前的请愿书。
然而,NCLT后通过提交副检察长印度梅塔和额外的副检察长N Venkatarama Antrix公司代表说,鉴于”情况下的情况下,和法律上的问题,我们认为认为初步案件是由被授予临时订单的请愿者赞成祈祷。”
“自R1公司(提婆)遭受了各种不良结果令人信服的证据的各种法定当局…不适当的允许R1公司继续它的名字注册公司的卷,班加罗尔,”它说。
提婆多媒体成立于2004年12月17日。
根据请愿书,然后官员Antrix公司包括其董事长执行合同日期为1月28日,2005年。
这是最后终止于2011年2月25日,因为它是骗取在当时官员的默许。调查机构——CBI和执法局——发现了欺诈在协议的执行,Antrix说。
CBI后提交费用表,ED PMLA发起诉讼。甚至,MCA还启动了一项调查提婆多媒体的事务,但德里高等法院颁发的保持。
请愿,Antrix公司提交,它本身是一个“欺诈和腐败的受害者”,其董事长和其他官员是一个政党,和因遭受一个仲裁裁决9月14日,2015遇到超过十亿美元,这与兴趣,今天超过十亿美元。
它更喜欢新德里高等法院上诉之前,对仲裁裁决。
提婆已经申请FIPB批准投资579卢比和投资使得为洗钱活动。
虽然印度央行Mehta提交项目涉及的组合技术的使用作为提供SDMB服务的卫星和地面系统。
“现在来记录,提供这些服务所需的技术是不存在的,合同被授予和是年后的法国科学家开发的,他已经申请了专利。提婆多媒体甚至不具备必要的技术,它作为授予合同时1月28日,2005年,”他提交。
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New Delhi: The National Company Law Tribunal<\/a> (NCLT<\/a>) has admitted the petition filed by Antrix Corporation<\/a>, the commercial arm of Indian Space Research Organisation, for winding up Devas Multimedia<\/a> and has appointed a provisional liquidator for the company. A two-member NCLT Bengaluru bench of the NCLT has directed the provisional liquidator to take control of the management, properties and actionable claims of Devas Multimedia.
The tribunal has also directed the existing management of Devas Multimedia to extend full cooperation to the provisional liquidator appointed by it.
\"We admit the company petition and the respondents are granted time to file their replies,\" said an NCLT bench comprising Member Judicial Rajeswara Rao Vittanala and Member Technical Ashutosh Chandra, in its order passed on January 19.
The NCLT has posted the matter on February 8 for further hearing into the matter.
The government, through the Ministry of Corporate Affairs<\/a>, also supported the Antrix Corporation plea before the NCLT and pointed out towards the various documents filed in the case for winding up of Devas Multimedia.
MCA officials submitted that continuance of Devas Multimedia's name on the rolls of Registrar of Companies (RoC) was not warranted and should be wound up.
The counsel representing Devas Multimedia has asked for some more time to file reply and said a reasonable opportunity should be provided to make its representation.
They also submitted that the cause of action arose a long time back, there was no urgency in the present petition.
However, the NCLT after going through the submissions by Solicitor General Tushar Mehta and Additional Solicitor General N Venkatarama representing Antrix Corporation, said, in view of \"circumstance of the case, and the law on the issue, we are of the considered opinion that prima facie case is made out by the Petitioner in favour of granting interim order as prayed for.\"
\"Since the R1 Company (Devas) has suffered various adverse findings with cogent evidence at the hands of various statutory authorities... it would not be proper to permit R1 Company to continue its name on the rolls of Registrar of Companies, Bengaluru,\" it said.
Devas Multimedia was incorporated on December 17, 2004.
According to the petition, the then officials of Antrix Corporation including its the then chairman had executed contract dated January 28, 2005.
This was finally terminated on February 25, 2011, as it was obtained fraudulently in connivance of the then officials. The investigating agencies - CBI and Enforcement Directorate - have unearthed fraud in executing of the agreement, Antrix said.
CBI had later filed charge sheets and ED had initiated PMLA proceedings. Even the MCA had also initiated an investigation into the affairs of Devas Multimedia but a stay was granted by the Delhi High Court.
In its petition, Antrix Corporation submitted that it itself was a \"victim of the fraud and corruption\" to which its then chairman and other officials were a party, and on account thereof has suffered an arbitral award on September 14, 2015 running into more than half a billion dollars, which with interest, comes to more than a billion dollars today.
It has preferred an appeal before the High Court of Delhi, against the arbitral award.
Devas had applied for FIPB approvals for the investment of Rs 579 crore and the investment has resulted for activities for money laundering.
While Tushar Mehta submitted that project involved the use of a combination of technologies as satellite and terrestrial systems for providing SDMB Service.
\"It has now come on record that the technology necessary for providing these service was not even in existence at the time, the contract was awarded and was developed years later by the French scientists, who has patented it. Devas Multimedia did not even possess the necessary technology, when it as awarded contract on January 28, 2005,\" he submitted.<\/p><\/body>","next_sibling":[{"msid":80436036,"title":"Vivo S7t to come with Dimensity 820 processor soon, reveals report","entity_type":"ARTICLE","link":"\/news\/vivo-s7t-to-come-with-dimensity-820-processor-soon-reveals-report\/80436036","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[{"msid":"80433388","title":"Court1_BCCL","entity_type":"IMAGES","seopath":"news\/company\/corporate-trends\/nclt-admits-antrix-corporations-winding-up-plea-for-devas-multimedia-appoints-liquidator\/court1_bccl","category_name":"NCLT admits Antrix Corporation's winding up plea for Devas Multimedia, appoints liquidator","synopsis":"The NCLT has posted the matter on February 8 for further hearing into the matter. ","thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-248587\/80433388.cms?width=150&height=112","link":"\/image\/company\/corporate-trends\/nclt-admits-antrix-corporations-winding-up-plea-for-devas-multimedia-appoints-liquidator\/court1_bccl\/80433388"}],"msid":80441576,"entity_type":"ARTICLE","title":"NCLT admits Antrix Corporation's winding up plea for Devas Multimedia, appoints liquidator","synopsis":"The tribunal has also directed the existing management of Devas Multimedia to extend full cooperation to the provisional liquidator appointed by it. ","titleseo":"telecomnews\/nclt-admits-antrix-corporations-winding-up-plea-for-devas-multimedia-appoints-liquidator","status":"ACTIVE","authors":[],"analytics":{"comments":0,"views":186,"shares":0,"engagementtimems":817000},"Alttitle":{"minfo":""},"artag":"PTI","artdate":"2021-01-25 08:00:27","lastupd":"2021-01-25 08:01:15","breadcrumbTags":["Antrix Corporation","National Company Law Tribunal","Devas Multimedia","nclt","ministry of corporate affairs","policy"],"secinfo":{"seolocation":"telecomnews\/nclt-admits-antrix-corporations-winding-up-plea-for-devas-multimedia-appoints-liquidator"}}" data-news_link="//www.iser-br.com/news/nclt-admits-antrix-corporations-winding-up-plea-for-devas-multimedia-appoints-liquidator/80441576">
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