NCLT admits Antrix Corporation’s winding up plea for Devas Multimedia, appoints liquidator

New Delhi: The National Company Law Tribunal (NCLT) has admitted the petition filed by Antrix Corporation, the commercial arm of Indian Space Research Organisation, for winding up Devas Multimedia and has appointed a provisional liquidator for the company. A two-member NCLT Bengaluru bench of the NCLT has directed the provisional liquidator to take control of the management, properties and actionable claims of Devas Multimedia.

The tribunal has also directed the existing management of Devas Multimedia to extend full cooperation to the provisional liquidator appointed by it.

“We admit the company petition and the respondents are granted time to file their replies,” said an NCLT bench comprising Member Judicial Rajeswara Rao Vittanala and Member Technical Ashutosh Chandra, in its order passed on January 19.