Devas v. Antrix: Lessons for India in Navigating Bilateral Investment Treaty Disputes
In Devas Multimedia Pvt. Ltd v. Antrix Corporation Ltd, the Supreme Court of India has upheld the National Company Law Appellate Tribunal (NCLAT) order winding up Devas Multimedia Ltd on the grounds of fraud. Antrix is the commercial arm of the Indian Space Research Organisation (ISRO), and Devas is a multimedia services company. The decision comes at a crucial time, as foreign investors of Devas are endeavouring to attach Indian assets
