SC rejects Devas plea to restrain liquidator

The Supreme Court on Tuesday turned down a plea by Devas Multimedia Pvt. Ltd to restrain the liquidator from taking any step in relation to the arbitration pending before the Delhi high court between Devas and Central government-owned Antrix Corporation Ltd.

Devas has filed proceedings before the Delhi high court for enforcement of an international tribunal award for $562.5 million plus interest in its favour.

The bench of justices Hemant Gupta and V Ramasubramanian declined to issue any interim order and asked Devas to go back to the National Company Law Appellate Tribunal (NCLAT) where its appeal is pending.