'Fraud of huge size': SC upholds winding up of Devas Multimedia

The Supreme Court on Monday upheld the winding up of Devas Multimedia, saying “it is a case of fraud of a huge magnitude which cannot be brushed under the carpet".

A bench of Justices Hemant Gupta and V Ramasubramanian dismissed the appeal filed by Devas Multimedia Pvt Ltd and said when two forums namely NCLT and NCLAT have recorded concurrent findings on facts, it is not open to this Court to reappreciate evidence.

"If the seeds of the commercial relationship between Antrix and Devas were a product of fraud perpetrated by Devas, every part of the plant that grew out of those