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Devas Multimedia
DEVAS MULTIMEDIA NEWS
US appeals court rejects Devas Multimedia’s plea for rehearing over $1.2 bn compensation from ISRO's Antrix Corp
February 12, 2024 7:53 am
The Aug 2023 order, for which rehearing was sought, was a major relief for Antrix Corp years after the UPA government’s move to annul a 2005 satellite deal between Devas Multimedia and Antrix.
Bengaluru court declares Devas founder a fugitive economic offender
June 10, 2023 6:19 pm
Under the 2005 satellite deal with Devas, the Indian space agency ISRO was contracted to lease two communication satellites for 12 years at a cost of Rs 167 crore to Devas Multimedia.
Devas-Antrix deal: Bengaluru court okays serving fugitive economic offender notice to Devas CEO
September 17, 2022 9:02 pm
The declaration of an individual as an FEO will allow the ED to seek confiscation of properties in India and abroad which are identified as proceeds of a crime.
Devas multimedia case: ED submits details for declaring founder CEO fugitive economic offender
September 11, 2022 6:52 am
On Friday, the ED presented a note on the Central authority that can issue an FEO notice, the format for notice and guidelines on mutual legal assistance between countries in criminal matters.
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.
US court stays Devas foreign investors over $111 million award
March 26, 2022 7:46 am
The Devas-Antrix deal was annulled by the Indian government in 2005.
UPA has much to answer for in Devas-Antrix. But Govt should take on board international rulings
January 20, 2022 9:49 am
🔴 Keeping aside the political posturing meant for a domestic audience, the government should also be mindful of the implications of not abiding by international norms. Not honouring global awards will have consequences.
Explained: The Devas-Antrix deal and its aftermath
January 19, 2022 12:22 pm
The Supreme Court has upheld the liquidation of Devas, whose foreign investors continue to fight for compensation following the cancelled 2005 satellite deal with Antrix. A look at the deal, and the ripples from the scrapping.
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.
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.
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