Big Win For ISRO As US Court Denies Rehearing Devas Multimedia’s Plea Demanding $1.2 Billion Compensation From Antrix Corp

A court of appeals in the United States confirmed the overruling of a $1.2 billion arbitration award that the Indian Space Research Organisation’s (ISRO) Antrix Corp was supposed to give to Devas Multimedia.

After the satellite deal between Devas and Antrix was annulled by the then-UPA government in February 2011, a compensation of $ 1.2 billion was awarded to Devas by an International Chamber of Commerce arbitration tribunal.

This was then confirmed by the US Federal Court for the Western District of Washington in October 2020. However, Antrix moved the US appeals court against this order and was granted immunity by the court in August 2023.

Confirming that decision, the appeals court said on Devas' plea in its 6 February order, "The petitions for rehearing en banc are denied. No further petitions for rehearing or rehearing en banc will be entertained."

Meanwhile, the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) are currently investigating charges of money laundering and corruption in India against Devas and its officials in India.

The White Paper on Economy highlights the Supreme Court's confirmation of irregularities and corruption in the Antrix-Devas satellite deal while listing the scams during the UPA era between 2004 and 2014.