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The National Company Law Tribunal, Bengaluru, on Tuesday admitted the petition filed by Indian Space Research Organization s commercial arm Antrix Corporation Ltd to wind up Devas Multimedia under Sections 271 and 272 of the Companies Act 2013. Antrix Corporation sought the winding up of Devas Multimedia on the grounds that the Bengaluru-based company s affairs were being have been conducted in a fraudulent manner , the company was formed for fraudulent and unlawful purpose , the persons concerned in the formation or management of its affairs have been guilty of fraud, misfeasance or misconduct . Antrix and Devas are in the middle of multiple legal proceedings over the former terminating the 2005 contract with the latter in 2011. In November 2020, SC had stayed the execution of a US award which asked Antrix to pay 1.2 Billion $ compensation to Devas. ....