Supreme Court upholds the National Company Law Tribunals (NCLT) order to wind up Bengaluru based Devas Multimedia. Devas Multimedia P. Ltd.(Devas) and Antrix Corp Ltd.(Antrix) executed a contract in 2005 according to which Antrix had to build and launch two ISRO satellites and lease S-band satellite spectrum on them to Devas, which was to be used by Devas to provide its internet services.In January 2021, Antrix an commercial arm of Indian Space Research Organisation (ISRO) had filed a petition with NCLT seeking liquidation of Devas on the ground that Devas was incorporated with a fraudulent motive, wherein the NCLT later in May ordered the liquidation of Devas. Aggrieved by this order Devas challenged this order in National Company Law Appellate Tribunal (NCLAT), Bengaluru, which upheld the NCLT’s decision, there upon Devas appealed to the Supreme Court. This long legal battle between Devas and Antrix came to an end, when the Supreme Court on 17/01/2022 dismissed an appeal filed by Devas challenging the order of NCLAT to wind up the company, a bench of Justices Hemant Gupta and V. Ramasubramanian approved the NCLAT’s findings that Devas was incorporated for fraudulent and unlawful purposes. A very crucial point of this case which was contended by Devas to declare the winding up unlawful was that the petition for winding up of Devas was never advertised by NCLT, however the court rejected this argument by giving reasons that the company is not being wound up due to inability to pay debts but it is being wound up due to fraud and here there were no stakeholders who were prejudiced by the failure of NCLT publish an advertisement of the petition. Reddy and Reddy Law Firm provides a wide range of corporate legal services ranging from incorporation to winding up and all the legal compliances related to it. We are regularly involved in representations before NCLT, NCLAT, DRT, DRAT and other commercial tribunals in India.