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A bench headed by Chief Justice Satish Chandra Sharma dismissed an appeal by Devas Employees Mauritius Pvt Ltd, a shareholder of Devas Multimedia Pvt Ltd, against the order passed by a single judge of the high court and said there was no error in the earlier finding.
The high court said that the arbitral award in favour of Devas suffers from patent illegalities and is in conflict with India's public policy.
In a February 11 ruling, Judge Christine Baudouin agreed with Air India that the court should take a closer look at the claim brought by three Mauritius investors and the German major Deutsche Telekom to identify the airline as an alternative to the Government of India to facilitate recovery of compensations awarded by international tribunals over the failed satellite deal.
FM Nirmala Sitharaman press conference Highlights: The FM said that the NDA government is fighting in every court so that Devas does not get away with Antrix deal fraud, adding the NDA government will soon appoint an arbitrator in Antrix Devas case.
A bench comprising Justice Hemant Gupta and Justice V Ramasubramanian dismissed the appeal filed by Devas Multimedia Pvt Ltd.
The order of winding up of Devas Multimedia is "undoubtedly, cemented on, just, fair, reasonable and equitable ground to relieve an 'abuse' and the same is free from any legal flaws," it added.
There is "no likely impact" of the lawsuits on the ongoing disinvestment process of Air India Limited as it is a separate corporate entity with its own management and board, Singh mentioned.
The International Chamber of Commerce's (ICC) arbitration body International Court of Arbitration has ruled in our favour in the Antrix-Devas arbitration case and Antrix is liable to pay damages totalling USD 672 million to it, Devas said on Tuesday.
ISRO has declined to give details of its correspondence with former space agency chief G Madhavan Nair on the report of a high-level probe into the Antrix-Devas deal on the basis of which he and three others were barred by government from any re-employment.
Devas Multimedia, whose controversial deal for scarce S-band spectrum with Antrix Corporation was annulled by the government, has moved the International Court of Arbitration for restoration of the contract.
Just like some of its rockets, India’s space agency is losing direction. By being more open, it can begin to stop the slide.
A former ISRO chief today said there has been 'no fiasco' on the S-band spectrum deal between the space agency's commercial arm Antrix Corporation and a private company and accused the media of communicating the issue to the public without properly analysing it.
Prime Minister Manmohan Singh has completely washed his hands off the controversial deal between Devas Multimedia and Indian Space Research Organisation's (ISRO) commercial arm Antrix Corporation deal that is alleged to have caused a loss of over Rs two lakh crore to the Government.
The government was forced on Thursday to scrap a contract approved by the prime minister's office to lease valuable satellite spectrum in another blow to his credibility, stung by a series of corruption scandals.
The controversial S-Band spectrum deal between ISRO's commercial arm Antrix and private firm Devas Multimedia was scrapped on Thursday.
