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Wednesday, July 28, 2021

Antrix Devas deal


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.

Antrix-devas deal: German telco moves US court against govt, flags unpaid damages

May 24, 2021 7:05 am

Deutsche Telekom, which picked up a 19.62 per cent stake in Devas Multimedia filed the petition for confirmation of damages in a US federal court in the district of Columbia.

US court refuses to stay proceedings in NCLT to liquidate Devas Multimedia

April 02, 2021 7:56 am

The court of Western District of Washington in Seattle refused to stay the proceedings in a National Company Law Tribunal (NCLT) bench in Bengaluru in a March 29 order, despite issuing a temporary restraining order in the matter on February 24.

Antrix-Devas deal: Bengaluru start-up to get compensation of $1.2bn from ISRO wing, rules US court

October 30, 2020 8:25 am

Devas Multimedia was started by a group of former ISRO and World Space employees in 2004. The foundation for the deal was laid during a 2003 visit to the US by ISRO and government officials.

Antrix-Devas deal: Two Devas top officials continue to elude CBI, ED

June 09, 2019 1:58 am

While the CBI court in Delhi ordered a separate trial on March 18 against the two officials, the special court in Bengaluru granted 12 weeks’ time on April 12 to serve summons at their US addresses.

Bengaluru court has jurisdiction to hear Antrix-Devas dispute: Delhi HC

May 30, 2018 5:11 pm

Antrix, in its 2011 plea in Bengaluru, had sought directions to Devas for restraining it from proceeding with the ICC arbitration, contrary to the agreement between them, and from getting it modified by the ICC.

Antrix-Devas deal case: Former ISRO chief granted bail by court

December 23, 2017 12:58 pm

The case relates to leasing of S-Band, a restricted wavelength of the INSAT satellites to deliver video, multimedia and information services to mobile receivers in vehicles and mobile phones to Devas Multimedia by Antrix.

Antrix-Devas deal: CBI sends judicial requests to four countries

August 08, 2017 7:39 pm

Letters Rogatory were recently sent to France, US, Mauritius and Singapore. An investment in Devas Multimedia Pvt Limited from four companies (one based in Singapore and three based in Mauritius) amounting to $130 million is under the scanner of CBI

Records show ex-ISRO chief Radhakrishnan ignored key advice on Devas breach

December 25, 2015 10:22 pm

While steps were being taken in 2010 to cancel the agreement, communication scientist S V Kibe and Financial Advisor G Balachandhran had informed Radhakrishnan that Devas was in violation of the agreement because it did not own the technology it was planning to deploy

Panel that fined Antrix $672 m said ISRO chief was in conflict of interest

October 23, 2015 3:05 am

The tribunal noted that the then Antrix chairman Dr K Radhakrishnan was also chairman of ISRO, chairman of the Space Commission and secretary, Department of Space (DoS).