The Bite Back
- January 2005: Antrix, ISRO’s commercial arm, gets into a deal with Devas Multimedia private limited
- February 2011: The Manmohan Singh government cancels the deal abruptly, citing “national needs” as the reason. September 2015: The arbitration court asks Antrix to pay $672 million to Devas
- July 2016: Case filed by Devas at The Hague goes against government. Damages payable by the government likely to go above $ 1 billion
T ill Monday morning, July 25, there was a faint hope for the NDA government that the Indian nominee in the Hague arbitration panel—former Rajasthan High Court chief Justice Anil Dev Singh—would rule in favour of the Indian government. By evening, those hopes were dashed when the panel handed a 3-0 verdict against the government in the Antrix-Devas dispute.
The Hague verdict has left the government red faced and staring at a fine that can go into billions of dollars. This is the...