The supreme Court on tuesday dismissed the plea filed by Devas multimedia seeking directions to restrain the liquidator from taking any steps with regard to the pending arbitration proceedings before the delhi High court.
The plea before the Delhi High court had been filed by Devas Multimedia for the enforcement of an award for 562.5 million, plus interest. However, on 25 may the national company law tribunal, Bengaluru Bench, directed for the forcible liquidation and winding up of the company by allowing a petition filed by indian space Research organisation ( ISRO) ‘s commercial arm Antrix corporation limited.
Devas multimedia approached the supreme Court for an interim order seeking directions directions to restrain the liquidator from taking any steps with arbitration pending, but a bench of justices Hemant Gupta. And V. Ramasubramanian refused to entertain the matter and directed the petitioner to approach the NCLAT.