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 government will use the Supreme Court order calling the 2005 deal between ISRO's commercial arm Antrix and privately-owned Devas Multimedia a fraud, to counter seizure of its properties, Finance Minister Nirmala Sitharaman said on Tuesday as she launched a blistering attack on the Congress for handing over airwaves used by the defence to the private firm for pittance. "It is a fraud of Congress, by Congress (and) for Congress," the minister told reporters as she read out paragraphs from the Supreme Court's January 17 decision allowing winding up of Devas Multimedia because of the fraud.
A US court has asked Antrix Corporation, the commercial arm of Indian Space Research Organisation, to pay a compensation of USD 1.2 billion to a Bengaluru-based startup, Devas Multimedia, for cancelling a satellite deal in 2005.
Isro says the controversial S-band spectrum deal is not the reason for the restructuring
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.
Antrix, the commercial arm of Indian Space Research Organisation has moved a court in Bengaluru seeking directions to restrain Devas multi-media from proceedings with the arbitration it has filed against it in an international court in Paris on cancellation of agreement on S band spectrum allocation.
The controversial Antrix-Devas deal will now come under the scrutiny of a Parliamentary panel. Parliament's Committee on Estimates has decided to examine the allocation of S-band spectrum by Indian Space Research Organisation (ISRO) with special reference to the Antrix-Devas deal, an official said.
Antrix Corporation, the commercial arm of Indian Space Research Organisation, has signed an agreement with US-based Space Imaging to market and sell data worldwide.
India will appeal against the verdict of the Hague tribunal in Antrix-Devas deal case, in which the international court had declared the annulling of the contract as "unfair" and "inequitable" and asked it to pay huge amount as compensation.
Besides Nair, others named in the charge sheet include the then K R Sridhar Murthy, Ramachandra Vishwanathan and M G Chandrasekhar.
An international tribunal has ruled that the Indian government had acted "unfairly" and "inequitably" in annulling a contract between Devas and ISRO's commercial arm Antrix.
Court questioned the probe agency on delay in filing the chargesheet.
There has been no loss of revenue arising out of the Antrix-Devas deal as the agreement has been annulled, the Lok Sabha was informed on Wednesday.
Nair blamed the then United Progressive Alliance government for the "hasty" decision to cancel the agreement with Devas
The Comptroller and Auditor General has come down heavily on the Department of Space, particularly on its former Secretary G Madhavan Nair, in the controversial Antrix-Devas deal alleging numerous rules and policies were violated and facts concealed to favour a private company.
The decision to annul the deal was taken at a meeting of the Cabinet Committee on Security chaired by Prime Minister Manmohan Singh on the basis of a recommendation from the Space Commission.
The International Chamber of Commerce's arbitration body International Court of Arbitration has ruled in our favour in the Antrix-Devas arbitration case and Antrix is liable to pay damages totalling $672 million to it, Devas said on Tuesday.
Former Indian Space Research Organisation chief G Madhavan Nair and three other senior scientists, who were barred from holding any government posts, have been indicted by the country's top space body-appointed committee for acts of commission in the Antrix-Devas deal.
The Enforcement Directorate has begun a "preliminary enquiry" into the financial transactions that took place in connection with the Antrix-Devas deal.
The Indian Space Research Organisation has refused to disclose the contents of letters written by its former chief G Madhavan Nair and others in connection with findings by a committee that went into controversial Antrix-Devas deal, saying they were "personal" that may impede process of investigation or apprehension of offenders.
'I will say all this happened because of ignorance coupled with arrogance,' says G Madhavan Nair.
The Department of Space is in the process of getting clearances for release of reports of two committees on the controversial Antrix-Devas deal, on the basis of which former Indian Space Research Organisation chief G Madhavan Nair and three other scientists were barred from holding any government posts. This was announced on Tuesday by ISRO Chairman K Radhakrishnan, who is also the DOS secretary, in a brief statement in his first comments on the issue.
Former Indian Space Research Organisation Chairman G Madhavan Nair on Thursday rubbished suggestions of a scam in the scrapped controversial Antrix-Devas deal and maintained that estimation of huge loss to the exchequer is "totally erroneous".
The Indian Space Research Organisation has declined to give details of its correspondence with former chief G Madhavan Nair on the report of a high-level probe into the Antrix-Devas deal, on the basis of which he and three others were barred by the central government from any re-employment.
The government on Thursday dismissed former Indian Space Research Organisation chief G Madhavan Nair's claims that he was not given a chance to give his views on the action taken against him in connection with controversial Antrix-Devas deal.
The ISRO row showed no signs of abating as former chief of the space agency, G Madhavan Nair on Tuesday hit back at his successor K Radhakrishnan dubbing as "another lie" the latter's claim that an inquiry was conducted into charges and lapses relating to the Antrix-Devas deal.
The government on Sunday said it was ready to hear the points of view of four scientists, including former Indian Space Research Organisation chief Madhavan Nair, who have been barred from occupying any government posts in connection with the controversial Antrix-Devas deal.
Even as the ISRO spectrum deal snowballs into a major issue, with the Opposition parties gunning for the United Progressive Alliance government, the head of the Indian Space Research Organisation Dr K. Radhakrishnan said that the Antrix-Devas S-band spectrum deal was recommended to be annulled in 2010 and the Department of Space is going through the process of reviewing the agreement.
Seeking to fend of attacks on his credentials in the Indian Space Research Organisation row, the space body's chief K Radhakrishnan on Tuesday said probe reports on Antrix-Devas deal that led to punitive action against his predecessor G Madhavan Nair and three fellow space scientists will be released after getting due clearance.
Even as the government acted against former Indian Space Research Organisation chief and three others in Antrix-Devas deal, the Bharatiya Janata Party on Wednesday sought to turn the tables on the Prime Minister's Office, demanding an explanation from the prime minister as to why no action has been taken against officials in his office responsible for the controversial agreement.
Taking action in the controversial Antrix-Devas deal, the government has barred former Indian Space Research Organisation chief G Madhavan Nair and three other eminent space scientists from holding any government jobs.
The Comptroller and Auditor General (CAG) on Tuesday criticised the roles of the Department of Space and its former secretary, G Madhavan Nair, in the Antrix-Devas deal, saying the deal was a "classic case of public investment for private profit".
Former Indian Space Research Organisation Chairman G Madhavan Nair is pinning hopes on Prime Minister Manmohan Singh to revoke the order banning him and three others from government jobs despite Union Minister V Narayanasamy ruling out its review, as he reiterated there is "no issue" vis-a-vis the Antrix-Devas deal.
'Devas will continue to pursue its rights and enforcement actions against India in courts around the world.'
A French court has ordered freezing of an Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a USD 1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy.
Unfazed by the Supreme Court upholding winding up of the company, shareholders of Devas Multimedia will continue to seek seizure of Indian government assets abroad to collect $1.2 billion the firm has been awarded by arbitration tribunals for cancellation of a satellite deal but are open for talks to settle the issue, their counsel said. "The decision by the Supreme Court does not change anything. The Modi government and the Indian courts cannot rewrite the facts. "Their flimsy allegations of fraud will never stand up in courts outside of India," said Matthew D McGill, partner at Gibson, Dunn & Crutcher, and lead counsel for several Devas' shareholders.
Antrix, ISRO's commercial arm, is eyeing 10% of the $357 billion global market.
GST Council decides to extend compensation cess beyond June 2022.
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.
The Indian State's arbitrariness may have come to be accepted with resignation within the country, but when it behaves in the same manner with external players, it gets a push-back, observes T N Ninan.
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