In the case of Devas Multimedia Private Limited v. Antrix Corporation Limited , [1] the Supreme Court of India in January 2022 upheld the decision of the National Company Law Appellate Tribunal (NCLAT) to wind up Devas Multimedia (or Devas, an Indian multimedia services provider), finding that it was incorporated fraudulently and for unlawful purposes. In 2021, the NCLAT had ordered the liquidation of Devas on the ground of fraud, under Sections 271 and 272 of the Companies Act, 2013, in response to a petition filed by Antrix, the commercial and marketing arm of the Indian Space Research Organisation (ISRO).
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