New Delhi: The Comptroller and Auditor General report on the controversial Antrix-Devas deal tabled in Parliament has called it "a classic case of public investment for private profit". The report comes down heavily on the Department of Space saying that in its eagerness, it concealed facts from the Cabinet and violated several rules.
The report also has harsh words for retired ISRO employees MG Chandrasekhar and D Venugopal. The report says that the interests of the public and the government were sacrificed to favour a private consultancy firm promoted by the duo.
"Antrix-Devas deal is a classic instance of failure of governance structure in which selected individuals, some serving and some retired public servants were able to propel agenda of private entity," says the CAG report.
According to the CAG the Antrix-Devas agreement was "cherry picked from two different models in a way to extend maximum benefits to Devas"....
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02:21 PM, May 15, 2012
New Delhi/Bangalore: The Enforcement Directorate has begun a "preliminary inquiry" into the financial transactions that took place in connection with the Antrix-Devas deal. The Directorate's zonal office in Bangalore has begun the probe to ascertain if any contraventions with regard to foreign exchange or anti-money laundering laws in the deal have occurred. The investigation, which the agency will conduct with the help of the RBI and the Income Tax department,...
02:50 PM, Mar 13, 2012
New Delhi: Former ISRO chairman G Madhavan Nair has hit out at the government for failing to list out reasons for blacklisting him and three others in connection with the scrapped Devas-Antrix S-band deal. Speaking exclusively to CNN-IBN, Nair said he was disgusted with the Department of Space as he had not been told on what grounds action had been taken. He also said he would continue with his fight...
07:35 AM, Mar 01, 2012
New Delhi: The S-band spectrum row is back to haunt the government with the Devas Multimedia moving the International Court of Arbitration (ICA) on Monday seeking restoration of its contract with Antrix, the commercial arm of Indian Space Research Organistaion (ISRO). Devas Multimedia has issued a statement confirming it approached the ICA in regard to the breach of contract by Antrix. "Devas confirms having exercised its rights and filed for...
02:56 PM, Jul 11, 2011
New Delhi: Government on Saturday night alerted the Department of Space and ISRO for help in locating the whereabouts of the missing helicopter carrying Arunachal Pradesh Chief Minister Dorjee Khandu and four others. Union Home Secretary GK Pillai said that Indian satellites have made two passes over the probable area from where the Pawan Hans helicopter went missing 20 minutes after takeoff from Tawang in Arunachal Pradesh but has not...
07:25 PM, Apr 30, 2011
Thiruvananthapuram: Amidst outcry over the S-Band spectrum deal between ISRO's commercial arm Antrix Corporation and a private company, the space agency's former Chairman G Madhavan Nair on Sunday said a high-powered committee set up by the Centre was probing the issue. "This matter is being inquired into by a high-powered committee. So I cannot make any remarks on that. But I am sure the department has been functioning as per...
02:25 PM, Feb 13, 2011
New Delhi: In a new twist to the S-band controversy, CNN- IBN has accessed confidential documents that has left The Department of Space running for cover. The Department of Telecom has raised the red flag virtually accusing The Department of Space for misleading it on the end use of S-band which was meant for commercial use and not strategic use as The Department of Space had projected. Dr K Radhakrishnan,...
09:23 PM, Feb 12, 2011
New Delhi: The Department of Space has recommended the cancellation of the controversial S-band spectrum deal between Devas Multimedia and Antrix Corporation, the commercial army of Indian Space Research Organisation (ISRO). The note for termination of the S-band spectrum deal has been sent to the Union Cabinet. The Cabinet Committee on Security will discuss the issue and take the final decision next week. "As we have informed and apprised the...
04:27 PM, Feb 12, 2011
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05:11 PM, Feb 07, 2011
DOS spent Rs 5000 crore from 2001 to 2007 on stores and equipment. ...
05:36 PM, Oct 26, 2008
