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Tags: National News
The Supreme Court on 17 January 2022 upheld the National Company Law Tribunal’s May 2011 order to wind up Bengaluru-based Devas Multimedia, saying “it is a case of fraud of a huge magnitude which cannot be brushed under the carpet".
What is the Devas MultiMedia case
In 2005 Devas MultiMedia company signed an agreement with Antrix corporation of Indian Space Research Organisation (ISRO) under which , ISRO was to lease two S-Band satellite spectrum for 12 years at Rs 167 crore to Devas Multimedia.
Devas MultiMedia
Antrix Corporation
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