The deal between Antrix and Devas was signed in when G Madhavan Nair was at the helm of affairs in the Department of Space (DoS). Former ISRO chairperson Madhavan Nair took advantage of the many positions of power he held to push deal through, says Comptroller and Auditor General. New Delhi: A Delhi court on Saturday granted bail to former Isro chairperson G. Madhavan Nair in the Antrix-Devas case that had caused a loss.

Author: Togar Zolorn
Country: Mayotte
Language: English (Spanish)
Genre: Video
Published (Last): 15 January 2014
Pages: 374
PDF File Size: 11.51 Mb
ePub File Size: 6.62 Mb
ISBN: 860-7-52613-265-9
Downloads: 18296
Price: Free* [*Free Regsitration Required]
Uploader: Nakazahn

From Wikipedia, the free encyclopedia.

Devas then took Antrix and the Government to International Court for cancelling its contract by the Cabinet Committee on Security in Devas, in turn, was to pay Antrix a total of million US dollars over 12 years. The case relates to leasing of S-Band, a restricted wavelength of the INSAT satellites to deliver video, multimedia and information services to mobile seal in vehicles and mobile phones to Devas Multimedia by Antrix.

Timeline of first orbital launches by country 1 Preceded by the Soviet space program. Please update ddal article to reflect recent events or newly available information.

The entire 70 MHz MSS segment was sold to Devas for around Rs 1, crore, which devxs a small amount for such deall huge amount of spectrum capacity. Please use a genuine email ID and provide your name.

In additon to S-band allocation, ISRO also granted all 20 transponders on two satellites meant to launch these services to Devas. Retrieved 3 June This can be guaged from the fact that in Bharat Sanchar Nagar Limited and Mahanagar Telephone Nigam Limited were given only 20 Mhz each of spectrum in the S-band for wireless services by the government for a hefty price of Rs 8, crore.

This page was last edited on 20 Decemberat Together we build journalism that is independent, credible and fearless. The court, meanwhile, took a strict view over the non-appearance of accused Veena S. He later blamed the UPA-2 government for things going south antrlx the deal.


CAG tears apart Antrix-Devas deal

Nair Feb 5, List of foreign satellites launched by India. In a statement, Devas said, “A Permanent Court of Arbitration tribunal has found that the government of India’s actions in annulling a contract between Antriz and Antrix Deaal Ltd, and denying Devas commercial use of S-band spectrum, constituted an expropriation.

The Department of Space Anrrixin a statement, said that in the award, issued on “jurisdiction and merits on 25 July, “, the tribunal has said that the Indian government’s essential security interest provisions “do apply in this case to devaz extent” and the “limited liability of compensation shall be limited to 40 percent of the value of the investment” but the precise quantum has not been determined as yet.

This will alert our moderators to take action. The case relates to leasing of S-Band, a restricted wavelength of the INSAT satellites to deliver video, multimedia and information services to mobile receivers in vehicles and mobile phones to Devas Multimedia by Antrix.

Get instant notifications from Economic Times Allow Not now You can switch off notifications anytime using browser settings.

Antrix was to lease satellite transponders to Devas for allowing it to offer digital multimedia services using the S-band wavelength spectrumreserved for strategic purpose. This article is closed for comments. New Zealand beat Sri Lanka by runs. The charges were dropped afterwards as the accusation turned out to be false. Dea, except three accused, the court granted bail to the rest who appeared before it, including A.

ISRO refuses to share details on Nair’s complaint.

Antrix-Devas deal case: Former Isro chief G. Madhavan Nair granted bail – Livemint

The CAG said of the deal: South Africa beat Pakistan by 6 wickets. Of the total, Rs The investigating officer moved an application for the issuance of fresh summons before the court, which was told by the CBI’s public prosecutor Manoj Shukla that according to MHA guidelines and treaty between India and US, the process requires at least three months time for execution. The probe agency had on August 11 last year filed a charge sheet against the accused, alleging they had caused a loss of Rs crore to the exchequer by abusing their official position to favour a private company.


Fill in your details: Subscribe to Weekly Newsletter:. Public sector undertakings in India List. December 23, Pro-democracy icon turned iron lady, Awami League leader oversaw 10 years of economic growth. Devas Multimedia was also charged with contravening the FDI regulations under Fema for assuring foreign investors an annual eight per cent priority dividend in addition to other dividends on cumulative basis, and for one tranche of receipt of funds, issuing a security akin to an External Commercial Borrowing ECB promising higher returns than the ceiling fixed by the Reserve Bank of India.

Eminent scientist resigns from Space Commission Feb 24, This will mean a lot for our ability to bring you news, perspectives and analysis from the ground so that we can make change together.

Nair is disparaged for taking advantage of his multiple roles. Bandersnatch review — Netflix’s interactive episode will make you question the concept of choice Noticing and note-taking with Shubhangi Singh in the rearview mirror: Skip to main content. Never miss a great news story! India beat Australia by runs.

Antrix-Devas case: Court summons Devas Multimedia ex-director

They reported the findings of a draft audit report and pointed out discrepancies including financial mismanagement, conflict of interest, non-compliance of rules, and favouritism.

The New Indian Express. A Delhi court on Saturday granted bail to former Isro chairperson G. Sridhar Murthy, former executive director of Antrix.

West Indies beat Bangladesh by 50 runs.