What is Antrix Devas case?
Antrix-Devas Case: Inking of the Agreement 167 crore which would offer hybrid satellite and terrestrial communication services pan India. Devas were given access to 70 MHz of S-band spectrum, something that is reserved only for security services of India. The Antrix-Devas deal was against national security.
Is Devas Multimedia an Indian company?
About us. Devas Multimedia Pvt. Ltd., an Indian company headquartered in Bangalore, was founded in 2004 by a team of successful satellite entrepreneurs and executives.
Why was Antrix Devas deal Cancelled?
In February 2011, the Manmohan Singh-led government cancelled the deal for “security reasons” after allegations of favouritism were made. Devas then took Antrix and the government to the International Court for cancelling its contract by the Cabinet Committee on Security in 2011.
What happened to Devas?
Last year, Antrix approached the National Company Law Tribunal (NCLT) seeking liquidation of Devas. NCLT ordered liquidation of Devas observing that the firm appeared to have been incorporated with fraudulent intentions. Devas appealed against that before the NCLAT which in September 2021 upheld the liquidation.
Who is the owner of Devas Multimedia?
President/CEO, Devas Multimedia Pvt Ltd.
Who are Devas Multimedia shareholders?
Devas shareholders include US investment groups Columbia Capital and Telecom Ventures as well as Deutsche Telekom. The Supreme Court on Monday upheld the winding up of Devas Multimedia saying,” it is a case of fraud of a huge magnitude which cannot be brushed under the carpet, as a private lis”.
Who signed Devas Antrix deal?
2005: Antrix Corporation, the commercial arm of India’s space agency, had signed a deal with Devas Multimedia, a satellite company to build two satellites and offer digital multimedia services using S-band spectrum over 20 years. 2008: Deutsche Telekom spent nearly $ 100 million for nearly 20% in Devas Mutimedia.
Who owns Devas?
What does Devas Multimedia do?
Devas would provide multimedia services to mobile platforms in India using S-band transponders on the satellites, with ISRO leasing 70 MHz of S-band spectrum.
What does the word Devas mean?
heavenly, divine
Deva (/ˈdeɪvə/; Sanskrit: देव, Deva) means “heavenly, divine, anything of excellence”, and is also one of the terms for a deity in Hinduism. Deva is a masculine term; the feminine equivalent is Devi.
What are devas in Hinduism?
deva, (Sanskrit: “divine”) Iranian daeva, in the Vedic religion of India and in later Hinduism, one of many gods, often roughly divided into sky, air, and earth divinities on the basis of their identification with the forces of nature.
Who is the owner of Devas multimedia?