Antrix-Devas deal: CBI gets nod to prosecute ex-ISRO bosses
The CBI has got the go ahead to prosecute former ISRO and Antrix officials over their alleged involvement in the Antrix-Devas scandal. CBI officials will charge them over conspiracy and money laundering charges. They will be prosecuted for abusing their official position in the Antrix-Devas deal. The case has been posted for further hearing by a special court on 1 June.
The Antrix-Devas deal
In January 2005, Antrix Corporation (ISRO's commercial arm) had signed an agreement with Devas Multimedia (a company formed by former ISRO scientists and US venture capitalists) for leasing S-band transponder on 2 ISRO satellites GSAT 6 and GSAT 6A. The S-band spectrum lies between the 2000-4000MHz frequency and is not only scarce but has enormous commercial value in high-speed terrestrial mobile communication.
Antrix-Devas Deal cost crores in losses: CAG
The Comptroller and Auditor General of India (CAG) pointed out that the S-band was allocated without competitive bidding, the Cabinet and Space Commission were not properly informed, public resources were diverted to build consumer specific satellites etc. The CAG estimated a loss of several hundreds of crores in the Antrix-Devas deal The CBI subsequently registered a case against officials from Antrix and Devas.
CBI registers case against Antrix, Devas
In 2014, NDA-government asked the CBI to take up the Antrix-Devas case. In Mar'15, CBI filed a corruption case against officials of Antrix and Devas; the deal resulted in a Rs. 578 crore loss to the Government. The Enforcement Directorate also registered a case against Devas to investigate the flow of funds under the Prevention of Money Laundering Act and Foreign Exchange Management Act.
Who all are CBI looking to prosecute?
The CBI is looking to prosecute former ISRO chairman G Madhavan Nair, former ISRO director A Bhaskar Narayana Rao, former Antrix executive director K R Sridhara Murthi, former Devas CEO Ramachandra Vishwanathan and former Devas director M G Chandrasekhar.
