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.
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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.
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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.
Devas says it has proceeded with the project after consents and approvals were obtained.
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.
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One of the advisors to Devas said the company should seek a legal option.
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Nair blamed the then United Progressive Alliance government for the "hasty" decision to cancel the agreement with Devas
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.
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.
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.
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The president and CEO of Devas, Ramachandran Viswan-athan said, "It is puzzling to hear about such a decision, especially as we have not been intimated. We have not received any communication from any quarter, government, Space Commission or Isro."
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The inquiry into Devas Multimedia's deal with Antrix, the commercial wing of Indian Space Research Organisation (ISRO), has found that when the Indian arm of the company was founded in 2004, it had just two shareholders and a paid-up capital of Rs 100,000.
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