Sunday, Feb 05, 2023

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.

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.

NCLAT upholds NCLT order to wind up Devas Multimedia

September 09, 2021 12:42 am

Earlier, the NCLT Bengaluru bench had ordered winding up of Devas Multimedia on a petition filed by the Ministry of Corporate Affairs. It had observed that Devas was only incorporated to collude with the then officials in order to “bring money into India and to divert it under dubious methods to foreign countries”.