US court ordered ISRO arm Antrix to pay Bengaluru-based Devas Multimedia $ 1.2 billion

Antrix broke this agreement with Dewas Multimedia in February 2011.

Particularities: Antrix and Dewas Multimedia signed an agreement in January 2005. Antrix broke with a startup in Bangalore in February 2011. Antrix was to build and launch the satellite. Washington:

The US court ordered Bangalore-based start-up Devas Multimedia (Devas Multimedia) to pay $ 1.2 billion (around Rs 90 billion) in the case of ISRO’s commercial arm (ISRO) Antrix. Antrix terminated the satellite manufacturing and launch contract with Dewas in February 2011.

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Dewas has been using legal options continuously since then. The Supreme Court had asked Dewas to take the matter to court. The agreement was signed at Antrix and Dewas in January 2005. Under the Antrix agreement, it was agreed to build, launch and operate two satellites for Dewas. He also asked Dewas to give 70 MHz S-band spectrum. Using this spectrum, Dewas was to launch satellite and regional communications services across India. Antrix broke this agreement in February 2011.

On October 27, Judge Thomas S. Zilli of the Western District of Seattle, Washington, passed an order. The court asked Antrix Corporation to pay compensation of $ 56.25 million to Dewas Multimedia Corporation and a total of $ 1.2 billion, including interest. In the case filed in the U.S. court, Dewas said three international tribunals and nine different tribunals called breaking the deal bad. One of these tribunals had called it a clear violation of general Indian good feeling.

Antrix, in November 2018, raised the issue of jurisdiction and argued for dismissal of the case. However, the court said it had jurisdiction over the matter. However, by postponing the case for a year, both parties were asked to file a joint status report by April 15, 2020.

Dewas and Antrix filed a situation report on July 16, 2020. However, differences remained regarding the removal or maintenance of the moratorium. Even after Antrix raised the issue of safety, there was no consent. The deal was between Antrix and SpaceFlight Industries, headquartered in Seattle. It was planned to provide satellite launch services via India’s PSLV rocket. A global agreement has been signed between Antrix and RBC Signals, headquartered in Redmond, Washington, as part of an agreement to provide communications services to satellite operators.

(This news was not edited by the NDTV team. It is posted directly from the feed.)

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