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ISRO's commercial arm Antrix told to pay $672 million to Devas

The Union government is now on the threshold of losing more than Rs 4,300 crore

Bengaluru: With the Paris-based International Court of Arbitration of the International Chamber of Commerce (ICC), which has asked Antrix Corporation to cough up $ 672 million as damages to Devas Multimedia for breach of their satellite contract, pointing out that then Chairman of ISRO Dr K. Radhakrishnan could have prevented the Cabinet Committee on Security from calling off the deal, his predecessor Gopalan Madhavan Nair, who signed the agreement for lease of S-band spectrum but was condemned along with three other top scientists, has demanded a fresh probe by the Centre into motives behind cancellation of the contract.

On a day when Antrix Corporation said it is preparing to file in court its ‘application for remedy’ against a ‘shocking’ verdict, Mr Nair told Deccan Chronicle, “it is unfortunate that ISRO has been penalised because of illegal action taken by Dr Radhakrishnan and his team. The government has to inquire and take appropriate action because some acted behind annulment of the contract”.

( Source : deccan chronicle )
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