SC dismissal of Devas plea to help India in global arbitration

The Supreme Court’s dismissal on Monday of the appeal filed by Devas Multimedia against the decision of the National Company Law Appellate Tribunal (NCLAT), which had upheld the National Company Law Tribunal’s decision to wind up the company, has significant political and economic ramifications -- and it is likely India will use it while fighting against an international arbitration award won by Devas, whose enforcement the company has been pushing for in some geographies.

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