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Wednesday, Dec 08, 2021
Outlook.com
antrix-devas: the falling out

A Celestial War

Devas faces harassment after filing for international arbitration

A Celestial War
PTI, Tehelka
A Celestial War
outlookindia.com
-0001-11-30T00:00:00+05:53

Chronicle Of A Deal Undone

  • Devas moves for arbitration on cancelled deal. Files for $1.6 bn in damages.
  • Antrix challenges Devas arbitration in Supreme Court, loses case
  • Devas investors also file for arbitration with claims worth $3-4 billion
  • Devas being pressurised by govt agencies. I-T, RoC notices served on it.

***

It has been nearly three years, but still no one knows on exactly what grounds the UPA government cancelled the now-infamous ‘S-band’ deal between Devas Multimedia and Antrix Corporation, the commercial arm of the Indian Space Research Organisation (ISRO). Spooked by the then unfurling  2G scam, and given that space comes directly under Prime Minister Man­mohan Singh’s watch, the government cited “national needs” and the country’s strategic requirements as the reasons.

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