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Antrix Corporation
ANTRIX CORPORATION NEWS
Antrix-Devas deal: Delhi HC sets aside award favouring Devas
August 30, 2022 6:56 am
Antrix had entered into a contract for the lease of a part space segment capacity on a communication satellite and an option to gain additional capacity on another satellite to Devas for 12 years.
Failed Antrix deal: Court in US allows 3 Devas investors to seize $87,000 from Intelsat
August 20, 2022 7:51 am
In a recent order, the court rejected a plea by Intelsat to stay the efforts by the Devas investors to seize its assets. Subsequently, on July 29, the court asked Intelsat to hand a cheque for $87,457 to Devas Multimedia America Inc, the US arm of Devas.
Failed 2005 satellite deal: US court refuses to stop Devas access to details of Antrix deal with US space firm
July 20, 2022 11:11 am
Antrix had sought a stay on the order while it filed an appeal against the order—to recover compensation to the tune of $ 111 million awarded to Devas Multimedia over the cancellation of the 2005 satellite deal.
Citing Supreme Court order, govt slams Congress, UPA on Antrix-Devas ‘fraud’ deal
January 19, 2022 1:30 am
Addressing the media, Union Finance Minister Nirmala Sitharaman hailed the Supreme Court decision as very comprehensive and hit out at the UPA government for the Antrix-Devas deal.
Failed 2005 satellite deal: ISRO arm Antrix opposes move by Devas investors to discover its assets across US
December 02, 2021 10:51 am
Three Mauritius-based investors in Devas Multimedia are attempting to identify assets of Antrix for attachment to recover $111 million compensation over the failed 2005 Devas-Antrix satellite deal.
Devas-Antrix deal: ED serves summons to US-based executive
November 20, 2021 9:18 pm
The ED informed a special court in Bengaluru about the serving of summons on Ramachandran Vishwanathan, Founder CEO of Devas Multimedia, and Devas Multimedia America Inc (DMAI), the US subsidiary.
Devas case: US court directs firm to provide documents of its deals with ISRO's commercial arm
November 16, 2021 6:30 pm
The US court issued the orders in the wake of foreign investors in Devas Multimedia seeking to locate the assets of Antrix Corporation, to enforce a $ 1.2 billion compensation award.
ISRO-Devas fallout: US firm moves court as ‘interested party’
November 09, 2021 4:32 am
The move comes in the wake of the US federal court order of August 16, 2021 allowing a Bengaluru start-up firm Devas Multimedia to identify assets of the Antrix Corporation in order to attach them for recovery of a US $1.3 billion compensation award made by an international tribunal over a failed 2005 satellite deal.
US court cites Antrix ‘delay’ tactics, refuses to stay proceedings in case
August 12, 2021 5:39 am
The US federal court for the Western district of Washington has cited delays in the appointment of an advocate for Devas Multimedia by a liquidator for the company while rejecting a plea for a stay on confirmation of a September 14, 2015 International Chamber of Commerce arbitration award.
Devas investors move US court, tag Air India assets to recover award
June 30, 2021 9:06 am
The Mauritius investors have followed in the footsteps of the UK firm Cairn Energy in seeking to get Air India declared an alter ego of India in order to pursue assets of the national carrier as a strategy to enforce arbitration awards against the government.
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