New Delhi: Everything began with the signing of the satellite agreement in 2005 between Arrix Arm Antrix ISRO and Multimedia Startup based in Bengaluru.
The controversial agreement was canceled later and the battle of the old law between two Antrix and God ended at the Supreme Court on Monday (January 1, 2022), which ordered the turnup.
Here are the Timeline in this case: Jan 2005: Agreement between Antrix Corporation and God signed in which Anriax agreed to build, launch and operate two satellites and rent 90% of the capacity of satellite transponders to a Bengaluru-based company, which has planned to use it for Offering satellite and terrestrial communication services hybrid throughout India.
Bundled into the agreement is 70 MHz from the S-band spectrum (usually limited to use by government security forces and telecommunications entities such as MTNL and BSNL), which are valued at RS 1,000 Crore.
The media exposure claims that the agreement can cause more loss than Rs 2 Lakh Crore to National Expequer.
February 2011: The government of Manchan Singh-LED UPA cancels an agreement by giving a “security reasons” after the alleged contract to the ‘Quad Pro Quo’ or the lover’s agreement was found.
G Madhavan Nair is the chairman of Isro later.
Aug 2016: Former Head of Isro G Nair Madhavan and other senior officials were accused by the CBI because they were accused of facilitating the “wrong” profit RS 578 Crore to DEX.
Sept 2017: International Chamber of Commerce (ICC) was awarded a $ 1.3 billion of compensation devas about the attractiveness of foreign investors in Dex.
June 2019: United Nations Commission on International Trade Law (Uncitral) The court found India in the violation of the German bilateral investment agreement in the arbitration initiated by foreign shareholders Devas Deutsche Telekom Ag.
Jan 2020: Three Entities based Mauritius CC / Dexa (Mauritius) Ltd, employees of DEX Mauritius Pvt Ltd, and Telcom Devas Mauritius LD, which holds 37.5% of shares in DEX, seeking confirmation of uncitric orders in the US Columbia District Court.
October 2020: US Federal Court for the Western District of Washington confirmed the ICC award to direct Antrix to pay $ 1.2 billion to Dexa.
Nov 2020: The Supreme Court in India still gets a US court order; Directing the Delhi High Court to hear arguments against enforcement.
Jan 2021: The company’s Ministry of Affairs directed Antrix to start a winding petition against the god based on the NLCT law acknowledging the Antrix petition against the god, pointing to the temporary liquidator.
September 202: Nclat upholds NCLT to end the multimedia devas.
Novt-Dec 2021: In two separate orders, the Canadian court in Quebec ratified the asset seizures owned by the Indian Airport Authority (AAI) and Air India (AI) held with the Global Airlines Body IATA after the Investor Devas submitted a case against the Indian government due to violation of the agreement bilateral by canceling the agreement.
8 Jan 2022: Canada Court Keeps the order and elevator remains on the freezing of AAI’s assets lying with IATA.
In the second order, the court changed its own verdict and allowed only 50% of AI’s assets lying down with IATA to be taken over by the Investor Devas.
17 Jan 2022: The Supreme Court in India upholds NClat’s verdict on lifting the god by dismissing the company’s appeal to the court and calling the “infected fraud-infected” agreement.
Explained: beans and bolts from controversial antrix-devas cases
