Internet gateway and service provider Videsh Sanchar Nigam Ltd will use the proceeds from the sale of its 5.42 per cent stake in US satellite firm
America's oldest satellite company Intelsat on Tuesday said it is being purchased by a group of private investors for $5 billion in cash and the assumption of debt.\n\n\n\n
The Tatas-owned Videsh Sanchar Nigam Ltd, the Internet gateway and service provider, is likely to receive around Rs 786 crore ($169 million) from the sale of its 5.42 per cent stake in US satellite company, Intelsat Ltd.
Devas Multimedia has seized $87,457.47 cash that ISRO's commercial arm Antrix Corporation held in the US as it looked to enforce a $1.2 billion compensation it had won over a cancelled satellite deal, its lawyer said on Wednesday. Devas Multimedia America Inc had sought seizure of $145,000 but the actual recovery was $87,457.47 (a little less than Rs 70 lakh). This came after it secured a favourable order from the Eastern District Court of Virginia, Matthew D McGrill said.
The Comptroller and Auditor General on Friday rapped space agency Indian Space Research Organisation for allowing a foreign private satellite service provider to park its satellite in an orbit slot meant for Indian satellites in violation of nation's SATCOM policy and extending "undue benefit" to a foreign firm.
The website of Indian Space Research Organisation's commercial arm Antrix Corporation Limited was reportedly hacked on Sunday and the space agency said efforts are on to set it right.
ISRO Chairman Dr A S Kiran Kumar said there was no information loss following the alleged hacking of the website of the space organisation's commercial arm Antrix Corporation Ltd.