NCLAT dismissed plea filed by ‘Devas Multimedia’ challenging winding up order of NCLT

COMPANY LAWS : Where appellant Devas was incorporated with a fraudulent motive to collude and connive with officials of ISRO’s Antrix Corporation to get bandwidth from it by entering into an Agreement ‘for services’ which were not in trend, utilising technologies not in ownership of appellant and furthermore, Agreement was signed was inviolation of ‘SATCOM Policy’, FIPB approvals were obtained fraudulently, illegal foreign investments were brought into India and then,COMPANY LAWS : Where appellant Devas was incorporated with a fraudulent motive to collude and connive with officials of ISRO’s Antrix Corporation to get bandwidth from it by entering into an Agreement ‘for services’ which were not in trend, utilising technologies not in ownership of appellant and furthermore, Agreement was signed was inviolation of ‘SATCOM Policy’, FIPB approvals were obtained fraudulently, illegal foreign investments were brought into India and then,www.taxmann.com Latest Case LawsRead More

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