Antrix ordered to pay compensation of nine thousand crores

The US court has ordered Antrix Corporation, the commercial arm of the Indian Space Research Organization (ISRO), to pay a compensation of $ 1.2 billion (about nine thousand crore rupees) to Bangalore-based startup Devas Multimedia. According to the agreement, in January 2005, Antrix agreed with Dewas to manufacture, launch and operate the satellite.

The agreement also provided two spectrums of 70 megahertz to Dewas. Dewas later used them in hybrid satellites. This was to be earned by benefiting the communication services of the whole of India. But Antrix canceled the deal with Dewas in February 2011. For several years thereafter, Dewas spoke at several legal forums in India. Ultimately, the Supreme Court gave the matter to the tribunal for consideration.

But the court of Western District of Washington on October 26 order given to Antrix Corporation, it was ordered to pay compensation of $ 56.25 million to Dewas Multimedia Corporation. This amount, including interest, will total $ 1.2 billion. In September 2018, Dewas filed a petition in the Western District Court of Washington. In this case, three independent international tribunals and nine different judges found that the move to cancel the agreement between Dewas and Antrix was wrong. It is a matter of justice.

This is a clear case of trust-breaking in India. In November 2018, Antrix challenged the judicial process of hearing the petition based on which the verdict has come, calling it an out-of-court case.