| Corporate | | | Devas moves int''l court on scrapped Antrix deal | | | TT Correspondent | | 12 Jul 2011 | | |  Devas Multimedia, whose controversial deal for scarce S-band spectrum with Antrix Corporation was annulled by the government, has moved the International Court of Arbitration for restoration of the contract.
"Devas confirms having exercised its rights and filed for arbitration with the International Court of Arbitration under the International Chamber of Commerce to resolve Antrix's breach of contract and purported termination of the Devas-Antrix Agreement," a Devas statement said.
The company refused to give further details. However, Devas is understood to have urged the international court to direct Antrix, Indian Space Research Organisation's (ISRO) commercial arm, to fulfill its agreement.
Antrix had entered into an agreement with Devas for leasing of S-band capacity on two satellites -- GSAT 6 and 6A to be launched by ISRO.
Under the terms of the agreement, Devas was to use the leased capacity for 12 years to offer multimedia services through its specialised systems to mobile terminals across India.
After a controversy broke out on the agreement, the Cabinet Committee on Security(CCS) had scrapped the deal in February citing strategic reasons.
Antrix officials could not be reached for comment. |
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