Former Indian Space Research Organisation (ISRO) chairperson G Madhavan Nair was on Saturday granted bail by a Delhi court in Antrix-Devas deal case which had allegedly caused a loss of Rs 578 crore to the exchequer. Special Judge Santosh Snehi Mann granted the bail on a personal bond of Rs 50,000 and two sureties of the same amount, reported PTI.
In 2015, the CBI had filed a FIR against the officials for facilitating “wrongful” gain to a private multi-media company causing the loss. On Saturday, the court granted bail to two other accused — A Bhaskar Narayana Rao, the-then director in ISRO and K R Sridhar Murthy, the-then executive director of Antrix. The three, along with Veena S Rao, a former additional secretary in the Department of Space (DoS), were accused of abusing their official position to favour a private company.
Rao was not present for the proceedings Saturday on the grounds that she had a meeting with the Karnataka chief minister. “She (Rao) should be careful about her decisions… Since it is her first appearance after the summons, she is exempted,” the judge said.
In August 2016, CBI filed a chargesheet against the accused alleging they abused their official position to favour a private company. 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.