# In the matter of Devas Employees Mauritius Private Limited Vs. Antrix Corporation Limited and Ors. CA (AT) (CH) No. 02 of 2021

> NCLAT judgment dated 2021-02-11. Citation: TCN-2021-NCLAT-00371. This Company Appeal (AT) (CH) No. 02 / 2021 arises from an order dated 19.01.2021 passed by…

- **Court:** NCLAT
- **Order date:** 11 Feb 2021
- **Citation:** TCN-2021-NCLAT-00371
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/devas-employees-mauritius-private-limited-vs-antrix-corporation-limited-and-ors-a5a426f6

## Summary

### Background

This Company Appeal (AT) (CH) No. 02 / 2021 arises from an order dated 19.01.2021 passed by the National Company Law Tribunal, Bengaluru Bench in company Petition No.06/BB/2021. The appeal was filed under Section 421 of the Companies Act, 2013 read with Rule 22 of National Company Law Tribunal Rules, 2016. The appellant, Devas Employees Mauritius Private Limited, a shareholder of Devas Multimedia Private Limited, challenged the appointment of a Provisional Liquidator for Devas Multimedia Private Limited. The NCLT had appointed the Provisional Liquidator based on a petition seeking the winding up of Devas Multimedia Private Limited, alleging fraudulent conduct of its affairs.

## Facts

Devas Employees Mauritius Private Limited, a shareholder of Devas Multimedia Private Limited, filed an appeal against the order dated 19.01.2021 passed by the National Company Law Tribunal (NCLT), Bengaluru Bench, in Company Petition No.06/BB/2021. The NCLT order appointed a Provisional Liquidator for Devas Multimedia Private Limited based on allegations of fraudulent conduct. Devas Employees Mauritius Private Limited claimed that the NCLT order violated principles of natural justice and procedural safeguards. Devas Multimedia Private Limited was engaged in the business of delivering broadband wireless access and audio-visual services through an integrated hybrid satellite and terrestrial communications system. It entered into an agreement dated 28.1.2005 with Antrix

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## Issues and analysis

### Issue 1: Whether the NCLT order dated 19.01.2021, appointing a Provisional Liquidator for Devas Multimedia …

**Ratio:** The power to appoint a Provisional Liquidator is derived from Section 273 of the

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**Reasoning:** The NCLT, after considering the petition for winding up and the allegations of fraud,

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**Interpretation:** Section 273(1)(c) of the Companies Act, 2013 grants the Tribunal the power to

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**Application:** In this case, the NCLT applied Section 273(1)(c) to appoint a Provisional

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## Parties

- **Judges:** Venugop…; Balvinder…
- **Appellants:** Devas Employees…
- **Respondents:** Devas Multimedia…; Antrix Corporation…

## Timeline

- **2005-01-28 — Agreement…**: Devas Multimedia Private Limited entered into an agreement with Antrix Corporation…
- **2006-05-18 — FIPB App…**: Foreign Investment Promotion Board (`FIPB') granted approval for investment by Deutsche…

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