Parliamentary panel to examine Antrix-Devas deal

The government had last month annulled the controversial deal between ISRO's commercial arm Antrix Corporation and Bangalore-based Devas Multimedia for lease of space segment in S-band

New Delhi: The controversial Antrix-Devas deal will now come under the scrutiny of a Parliamentary panel. Parliament's Committee on Estimates has decided to examine the allocation of S-band spectrum by Indian Space Research Organisation (ISRO) with special reference to the Antrix-Devas deal, reports PTI.

The government had last month annulled the controversial deal between ISRO's commercial arm Antrix Corporation and Bangalore-based Devas Multimedia for lease of space segment in S-band.

Under the deal, Antrix was to provide 70 MHz of the scarce S-Band space segment to Devas for its digital multimedia services. This was to be done by leasing 90% of the transponders in satellites GSAT-6 and GSAT-6A that are proposed to be launched by ISRO. Devas, in turn, was to pay Antrix a total of $300 million over 12 years.

The agreement was signed on 28 January 2005.

Consequently, the Department of Space (DoS) got the Cabinet approval for the building of GSAT-6 at a cost of Rs269 crore and GSAT-6A at a cost of Rs 147 crore under the commission's delegated powers.

There were complaints about the manner in which the deal was entered into and the way in which it was being operationalised.

It was found that the DoS got the approvals for building the satellites without making any reference to the fact that they were to be utilised primarily for Devas' benefit.

Prime minister Manmohan Singh has strongly rejected any suggestions that his office continued talks with Devas on its controversial after the Space Commission decided to scrap it.

Mr Singh had ordered a review of the deal by a committee comprising BK Chaturvedi, Member, Planning Commission and aerospace scientist Roddam Narsimha.

The committee had submitted its report to the prime minister on 12th March. Mr Singh had asked cabinet secretary KM Chandrashekar to examine the report and make recommendations on the follow-up action within 15 days.

User

Healthcare costs: Planning regulation

Finance ministry and health ministry need to ensure that people get affordable quality...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
Life insurance : Bharti AXA’s three new traditional plans

Choices to lure different customer segments

Bharti AXA has launched three new traditional...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)