Antrix-Devas case: HC imposes ₹5 lakh cost on company for ‘proxy war’
The High Court of Karnataka has imposed a cost of ₹5 lakh on Devas Employees’ Mauritius Pvt. Ltd. (DEMPL) for filling a petition “abusing process of law and as a proxy war” on behalf of Devas Multimedia Pvt. Ltd., which is going through money-laundering and different expenses on its alleged fraudulent settlement on bandwidth amenities with ISRO’s business arm Antrix Corporation.
Justice P.S. Dinesh Kumar handed the order whereas dismissing the DESPL’s petition questioning the legality of the sanction granted by the Central authorities on January 18, 2021 for Antrix Corporation to provoke winding up proceedings towards Devas.
Pointing out that the petitioner had already turn into a celebration earlier than the National Company Law Tribunal (NCLT) in liquidation proceedings towards Devas, the High Court noticed that the current petition was filed a day previous to the date mounted for remaining listening to earlier than the NCLT on a plea for liquidation of Devas, and this conduct quantities to “abuse of process of law and a proxy war on behalf of Devas”.
Observing that Devas had not challenged the sanction granted by the Central authorities, the courtroom stated that the DEMPL, which has a miniscule shareholding of three.48% in Devas, has approached the High Court difficult the liquidation proceedings although sanction order has not affected its elementary rights assured below the Constitution of India.