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Thursday, August 18, 2022

Antrix Devas deal


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.

Antrix Deal: As it prosecuted Devas, ex-ISRO officials, Govt sought ‘settlement’

July 19, 2022 8:20 am

The biggest compensation granted to Devas has been a September 2015 ICC tribunal award of over $1.2 billion, which was confirmed by a US federal court in October 2020. Antrix Corporation has filed an appeal against this order.

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.

Supreme Court upholds NCLAT order to wind up Devas

January 19, 2022 1:31 am

The court stated that it is a case of “fraud of a huge magnitude which cannot be brushed under the carpet, as a private lis (suit)”.

Foreign investors in Devas Multimedia set sights on Air India assets in US, cite Canada court order

January 17, 2022 3:08 am

🔴 The three Mauritius-based investors are attempting to recover $111 million compensation awarded to them by an international tribunal over the cancellation of a 2005 satellite deal between Devas Multimedia and the Antrix Corp by the Indian government in 2011.

Devas-Antrix deal: AAI says will take action against seizure of assets

January 05, 2022 12:26 am

The Montreal court ordered the seizure of the AAI funds after preliminarily identifying it as an alter ego of the Government of India, which owns ISRO and Antrix.

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.

US court allows Devas investors to track down ISRO commercial arm Antrix's assets to recover $1.3 billion compensation

August 19, 2021 8:51 am

The US federal court has also stated that the investors can look at Antrix Corporation’s “relationships with the Government of India and NewSpace” as part of the effort to identify assets for attachment to recover the compensation.

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.