December 17, 2025 05:33 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Goa nightclub fire horror: Luthra brothers brought back to India from Thailand, arrested | Messi chaos costs minister his job: Aroop Biswas resigns after Salt Lake Stadium fiasco | Bengal SIR draft list out: Around 58 lakh voters’ names dropped | Relief for Sonia, Rahul Gandhi as Delhi court refuses to act on ED chargesheet in National Herald case | Centre moves to replace MGNREGA with 'G Ram G', sets stage for winter session showdown | Messi surrounded by VIPs, fans rage: Five held in stadium vandalism case | 'Messi was uncomfortable, lost his cool!': Ex-India footballer reveals what really happened at chaotic Kolkata stadium | PM Modi embarks on historic three-nation visit to Jordan, Ethiopia, and Oman | Caught in Thailand! Fugitive Goa nightclub owners detained after deadly fire kills 25 | After Putin’s blockbuster Delhi visit, Modi set to host German Chancellor Friedrich Merz in January

India loses arbitration case to Devas in The Hague, damages could be $1 Billion

| | Jul 26, 2016, at 04:58 pm
#The Hague # Devas-Antrix deal # Arbitration case # ISRO # India loses case
The Hague, July 26 (IBNS) India has lost a big arbitration case in the International Tribunal in The Hague for cancelling a satellites and spectrum deal with Devas Multimedia and might end up paying a billion dollars in damages, said reports.
The International Tribunal in The Hague passed a verdict which is against the Indian government and went in favour of Devas Multimedia. The contract was cancelled in 2005 by Antrix Corporation Limited which is the commercial wing of Indian Space Research Organization (ISRO). 
 
Antrix had signed a deal with Devas Multimedia in 2005 to build two satellites on which Devas would lease transponders in India. Bundled into the deal was 70 MHz of S-Band spectrum which was allegedly "grossly underpriced" at Rs 1000 crore. 
 
Former ISRO chairman G Madhavan Nair among others were blamed for their roles in the deal, triggering a row as Nair cried foul and said it was a conspiracy. 
 
Image: Wikimedia Commons

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Images
In images: PM Modi arrives in Ethiopia
In images: PM Modi arrives in Ethiopia Dec 16, 2025, at 09:24 pm
In Images: Modi visits Jordan Museum at Amman
In Images: Modi visits Jordan Museum at Amman Dec 16, 2025, at 04:09 pm
In Images: PM Modi holds delegation talks with Jordan
In Images: PM Modi holds delegation talks with Jordan Dec 16, 2025, at 02:57 am
Related Videos
Messi-chaos in Kolkata: Football fever turns into a citywide shame Dec 14, 2025, at 02:15 am
India’s drdo successfully conducts high-speed rocket-sled test of fighter aircraft escape system Dec 03, 2025, at 07:57 pm
tusharrkhanna & helidaruwala spotted together celebrity celebritynews Dec 03, 2025, at 07:54 pm