Devas V. Antrix: A Judicial Crunch for Arbitration in India

Abstract

A corporation's dissolution is a legal procedure. It is a method via which a company's operations come to an end owing to specific events described in the Companies Act and its assets are managed for the benefit of its shareholders and creditors. However, in the Devas-Antrix case, a firm was wound up for the first time for fraud, which is now a reason for winding up under Section 271 of the 2013 Companies Act. In light of this recent Supreme Court decision, the following paper will assess fraud as a foundation for winding up. This article's goal is to examine the winding-up process in light of both the 1956 Statute and the 2013 Act. It will also make an effort to analyse the long-term effects of the Supreme Court's ruling on corporate fraud and any future precedents it may set.