Antrix-Devas case was a fraud on people of India, says finance minister – Times of India

NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday lashed out at the UPA government for allowing the deal between Antrix and Devas Multimedia back in 2005.
Sitharaman said the deal was a fraud on people of India and against the country and praised the Supreme Court for giving a comprehensive outcome on the case.
“After nearly 10-11 years of struggle, the SC has come out with the decision on the case. This indicates how Congress party has misused its position when in power,” the FM said.

She also questioned the Congress party for allowing blatant selling of resources of the government and people of India for pretence.
“We are fighting to save taxpayers’ money which otherwise would have gone to pay for the scandalous Antrix-Devas deal,” she added.
Her comments came as Devas shareholders pursue Indian assets abroad to recover $1.29 billion that international arbitration tribunals awarded over a cancelled satellite contract. They have got a French court order for freezing Indian properties in Paris and are seeking Air India funds in Canada.
In 2005, Devas Multimedia signed an agreement with Antrix — the commercial arm of the Indian Space Research Organisation (ISRO) — to provide multimedia services to mobile users using the leased S-band satellite spectrum.
The deal was cancelled in 2011 on the ground that the auction of the broadband spectrum was mired in fraud and that the government needed the S-band satellite spectrum for national security and other social purposes.