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Government cancels ISRO-Devas deal
Thursday February 17, 2011 02:12:04 PM,
IANS
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New Delhi: The
government Thursday cancelled the deal between Antrix, the
commercial arm of Indian space agency ISRO, and private company
Devas on the allocation of S-band spectrum.
The decision was announced by union Law Minister M. Veerappa Moily
following a meeting of the cabinet committee on security.
"The government is prepared for the legal challenge posed by Devas,"
an official said.
The Comptroller and Auditor General has indicated that the deal
between Antrix Corporation and Devas caused the nation an
estimated loss of Rs.2 lakh crore.
The government had denied that the nation suffered revenue losses
in the allocation of space spectrum using S-band - high value and
scarce radio waves - in the deal.
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