Additionally, the tribunal has awarded damages and pre-award interest totalling US$ 672 million to Devas
with post-award interest accruing at 18 percent per annum on the sum until the award is fully paid.
Antrix, the commercial arm of Isro, struck the deal in 2005 with Devas
, giving them rights for delivery of videos, multimedia and information services to mobile phones using S- Band through GSAT- 6 and GSAT- 6A satellites and terrestrial to be launched by Isro in India.
It would be interesting to see what the apex court, while considering the petition Devas
has moved, has to say about the way in which the government dealt with this issue and inter alia comments on Madhavan Nair's complaint that he was not given a proper hearing by the Pratyush Sinha committee that enquired into the Devas
deal and the government that decided on the punishment.
It also recommended investigation by an appropriate agency to look into the changing pattern of ownership of Devas
, the illegal financial benefit derived by individuals and officials, and the extent to which the increased valuation of Devas
shares were encashed by individuals.
ISRO subsidiary Antrix Corporation grossly undersold to Devas
spectrum from the 2.
In Chapter 5 Devas
assesses local revenue and administration, with recommendations on simplification of procedures and on efficiency calculations.
Antrix had signed a ` 1,000- crore deal with Devas
for allocating over 70 Mhz of S- Band spectrum from the pool meant for defence and space research purposes.
According to the contract with Devas
, Antrix would have earned $11 million a year per satellite for 12 years.
The asuras hold the head of the naga (serpent) Vasuki, who was procured for a churning rope, and the devas
hold his tail.
THE much- awaited audit report on the controversial Antrix- Devas
deal has castigated the department of space ( DoS) for virtually gifting ' a valuable and potentially high profitearning spectrum band' to Devas
Nair had in his letter has requested the PMO for a comprehensive review not only starting from the Devas
agreement, but the technical advantages which the country would have gained.
During the Vedic period the gods were divided into two classes, the devas
and the asuras.